Morning Report

The pair has declined re-testing the middle line of Keltner channel which acted as a good support as seen on the provided daily graph. Stochastic continued attempting to fix the bearish sign appearing on it but we will continue depending on the solidity of the wide resistance areas between 1.3380 and 1.3435 to suggest possible bearish wave over intraday basis. A break below yesterday's recorded low at 1.3280 will bring panic sell-off actions.

The trading range for today is among key support at 1.3140 and key resistance at 1.3500.

The general trend over short term basis is to the downside, targeting 1.1865 as far as areas of 1.3550 remain intact.

Previous Report

Weekly Report

RecommendationBased on the charts and explanations above our opinion is, selling the pair below 1.3280 targeting 1.3080 and stop loss above 1.3435 might be appropriate.