Morning Report

width=640

Trading remains confined within the minor ascending channel shown on the image, the pattern could be a continuation flag , which supports the continuation of the intraday bearishness today, and now a breach below the support of this channel around 101.45 is the only requirement to activate the bearish scenario. Targets start at 100.00, and require steady trading below 102.40.

The trading range for today is expected among the key support at 100.00 and the key resistance at 103.00.

The short term trend is to the downside as far as 150.00 remains intact with targets at 112.00.

Previous Report

Weekly Report

Support101.45100.75100.0099.4098.50
Resistance102.40103.00103.80104.25104.75
RecommendationBased on the charts and explanations above we recommend selling the pair with a breach below 101.45 targeting 100.00 ,stop loss with four-hour closing above 102.40 may be appropriate