Morning Report

The cable continued its trading within a sideway range, shown on the image above, while negative pressure continues to try and breach this range's support at 1.6185. From here, we expect a bearish intraday direction that will build its base on 1.6275 and head towards breaching the mentioned support to achieve its next main targets around 1.6070. The stochastic is showing positive signs, which could push the pair to achieve some mixed fluctuations. Chances of this expected bearish intraday will prevail if trade remain below 1.6335.

The trading range for today is among the key support at 1.6070 and the key resistance at 1.6460.

The general trend is to the upside as far as 1.4840 remains intact with targets at 1.7200.

Weekly ReportMonthly Report

RecommendationOur morning expectations remain valid.

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