Morning Report

The cablehas been able tobreach thesupport for the rising wedge to activate expectations, shown in yesterday's reports, which point to an expected bearish direction over an intraday basis, where we expect this day to be an extension for this direction. The main awaited descending target is around 1.5700 and requires 1.06075 to remain intact.

The trading range for today is among the key support at 1.5700 and the key resistance at 1.6075.

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

Weekly ReportPrevious Report

RecommendationBased on the charts and explanations above our opinion is selling the pair from 1.5915 targeting 1.5800 and stop loss above 1.6010, might be appropriate.