Morning Report


The pair is fluctuating around the main breached support which turns into resistance at 0.8260, where it ended yesterday's session below the aforementioned level, thus we maintain our bearish expectations for the pair targeting initially 0.8170 followed by 0.8100. Positivity on momentum indicators is preventing the acceleration of the downside bias and may lead to sideways fluctuations for some time.

The trading range for the week is expected among the key support at 0.8100 and the key resistance at 0.8350.

The short term trend is to the upside as far as 0.8165 remains intact with targets at 1.0370.

RecommendationBased on the charts and explanations above we recommend selling the pair around 0.8260 targeting 0.8200 and 0.8100 ,stop loss above 0.8350 may be appropriate