Morning Report

The negative pressure coming from the bearish technical pattern shown yesterday continued due to the pair's effect. Meanwhile, stability will remain below the breached neckline at 1.5190 which encourages us to expect more bearish movement for today; targets start at 1.5175 and require the four- hour candlestick to remain below 1.5245 to prevail.

The trading range for today is among the key support at 1.4970 and the key resistance at 1.5270.

The short term trend is to the upside as far as 1.4850 remains intact with targets at 1.7000.

Previous Report Weekly ReportSupport1.51601.51251.50751.49701.4925Resistance1.51901.52451.52901.53451.5395RecommendationBased on the charts and explanations above our opinion is selling the pair from 1.5190 targeting 1.5075 and stop loss above 1.5270, might be appropriate.