MorningReport

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The pair managed to acquire the awaited target at 100.00 after breaching the continuation flag pattern we mentioned in our previous reports. Currently, we expect fluctuations among 100.00 and 100.75 before resuming the downside move, as the complete targets for the breached pattern are not acquired yet.

The trading range for the day is expected among the key support at 98.50 and the key resistance at 101.80.

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

Support100.0099.4098.5097.8097.40
Resistance100.75101.00101.80102.65103.35
RecommendationBased on the charts and explanations above we recommend selling the pair with around 100.75 targeting 99.40 and 98.50,stop loss with four-hour closing above 101.80 may be appropriate