Morning Report


About twenty pips separated between the royal pair and the proposed technical objective of the short term basis at 0.8180. The bearish classical head and shoulders pattern is about to be completed with its projected technical targets. Stochastic is presently overlapping positively while the pair found a solid support around 0.8205. Henceforth, we prefer watching the price actions today to see if it intends to start technical trip towards the extended targets or it will be limited around 0.8180-0.8205 areas.

The trading range for today is among the key support at 0.8100 and key resistance now at 0.8335.

The general trend over short term basis is to the downside, targeting 0.7780 as far as areas of0.8965remain intact.

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RecommendationBased on the charts and explanations above our opinion is, staying aside and following our upcoming reports to define the next big move.