Morning Report

Yesterday, the pair attempted to incline; however, the Exponential Moving Average 50 and 61.8% Fibonacci correction at 1.3565 were able to stop the pair's positive momentum. There factors support the bearish technical structure to remain valid, supported by the negativity seen on Stochastic. In result, we expect the pair to provide another bearish attempt today, while a breach of 1.3380 could support the downside movement to extend further.

The trading range for today is among the major support at 1.3270 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

Support1.34101.33801.33501.33101.3270
Resistance1.34901.35151.35651.36201.3665
RecommendationBased on the charts and explanations above, our opinion is selling the pair around 1.3515, and take profit in stages at (1.3380 and 1.3270) and stop loss above 1.3620 might be appropriate