Morning Report

The pivotal resistance 1.6265 levels have proven their strength in front of the pair's attempts to ascend; therefore pushing the pair to strongly move to the downside, away from the previously expected bearish scenario. The pair is currently facing pivotal support levels between 1.6105 - 1.6075, where we think that the pair will succeeded at breaching it; paving the way to achieve the possible bearish direction over an intraday basis, where its main targets start at 1.5945 and then complete 1.5800. Meanwhile, it is vital that trading remains below 1.6220 to maintain chances of achieving these expectations.

The trading range for today is among the key support at 1.5900 and the key resistance at 1.6300.

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

Morning Report Weekly Report

RecommendationBased on the charts and explanations above our opinion is selling the pair with the breach of 1.6075 targeting 1.5945 and stop loss above 1.6170, might be appropriate.