Morning Report

Two days of mixed signs controlled the movements of the pair but finally it stabilized again below 0.8550-0.8500 zones, opening the door for additional bearishness over intraday basis and may be over short term basis toounder the negative pressure of Ribbons linesEMA10-80 as seen on the provided chart. The royal pair could collapse, targeting 0.8190 areas if it succeeded to achieve additional bearish closing below 0.8400-0.8380 zones.

The trading range for today is among the key support at 0.8400 and key resistance now at 0.8605.

The general trend over short term basis is to the upside, targeting 0.9720 as far as areas of 0.8400-0.8380 remain intact.

Weekly Report Previous Report

Support0.84500.84200.84000.83800.8340Resistance0.85000.85500.85800.86050.8630RecommendationBased on the charts and explanations above our opinion is, selling the pair from 0.8490 targeting 0.8400 and stop loss above 0.8580 might be appropriate.