Morning Report

The pair ended yesterday above 1.3500, yet today we can see trading stabile below the critical breached support at 1.3590 which is protected by the MA 50 that offers continuous negative pressure. Stochastic is gradually losing the upside momentum and therefore we hold onto our general bearish expectations for the coming period targeting areas from 1.3360-20. The breach of 1.3590 might delay the awaited targets.

The trading range for today is among the major support at 1.3320 and the major resistance at 1.3665.

The short-term trend is to the upside with steady daily closing above 1.2795 targeting 1.5135.

Previous Report

Weekly Report

RecommendationBased on the charts and explanations above our opinion is selling the pair with hourly closing below 1.3495 targeting 1.3320 and stop loss with hourly closing above 1.3590 might be appropriate