Morning Report

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The pair found a solid ground at the support of the short term descending channel-shown on image-, also supported by positivity on momentum indicators over the four-hour time frame, these factors may push the pair to acquire some upside correction before resuming the downside move for today. Downside targets start at 99.40, and requires stability below 102.30

The expected trading range for the week is among the key support at 99.40 and the key resistance at 102.30.

The short term trend is to the upside so far as 123.30 remains intact targeting 94.80.

Previous Report

Weekly Report

Support100.90100.0099.4098.5098.00
Resistance101.70102.30102.80103.30103.90
RecommendationBased on the charts and explanations above we recommend selling the pair around 102.30 targeting 100.90 and stop loss above 103.30 may be appropriate.