Morning Report

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The heavy negative divergence on indicators is to confirm that the second internal wave hasn't been placed yet. Note that the gap that occurred with the weekly opening is still uncovered; thus, potential downside movements could be seen today, targeting 0.8760 -the gap's coverage levels-.

The trading range for today is among the key support at 0.8700 and key resistance now at 0.9000.

The general trend over short term basis is to the upside, targeting 0.9720 as far as areas of 0.8400 remain intact.

Weekly Report Previous Report

Support0.88100.87900.87600.87200.8700
Resistance0.88650.89050.89350.89600.9000
RecommendationBased on the charts and explanations above our opinion is, selling the pair from 0.8845 targeting 0.8760 and stop loss above 0.8905 might be appropriate.