Morning Report

Narrow trading as well, where the pair found a good support at 103.40 supported by positivity on momentum indicators. Therefore, we remain anticipating a slight upside correction toward 104.25 before resuming the intraday downside move which depends mainly on settling below 104.75 level. Th awaited targets reside at 102.10 followed by 100.75.

The trading range for the day may be among the 100.75 support and 104.75 resistance.

The short term trend is to the downside targeting 94.80 so long as 123.30 remain intact.

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Weekly Report

RecommendationBased on the charts and explanations above we recommend selling the pair around 104.25 targeting 102.10 and stop loss with four-hour closing above 104.75 may be appropriate