Morning Report

The pair is trading around the previously breached key 61.8% Fibonacci correction yesterday, in an attempt to build a base that would support resuming the bearish direction.Stochastic is showing negative sign that makes us expect more possible bearish intraday direction; targeting 1.4785 initially and essentially requiring trading to remain below 1.5060.

The trading range for today is among the key support at 1.4785 and the key resistance at 1.5060.

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 from 1.4945 targeting 1.4785 and stop loss above 1.5060, might be appropriate.