Morning Report

The pair settled above the main support at 1.5225 mentioned yesterday while noticing lost positive momentum on indicators. Therefore, we withhold to yesterday's trend expectations and expect an intraday downside move, initiated with the breach of 1.5225 targeting mainly 1.5075. Steady trading below 1.5350 is required for our expectations to prevail.

The trading range for today is among the major support at 1.5075 and the major resistance at 1.5350.

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

Previous Report

Weekly Report

Support1.52251.51601.51251.50751.5030Resistance1.53501.53951.54351.54751.5500RecommendationBased on the charts and explanations above our opinion is selling the pair with the breach of 1.5225 targeting 1.5075 and stop loss above 1.5350 might be appropriate