Morning Report

The pair succeeded in resuming the awaited bearish direction yesterday and halted around the downside direction around 1.5340. The positivity of the pair is moving to the upside, while resistance offered by the MA 50 along with stability below 1.5510 are factors that make us expect a bearish intraday direction. The awaited targets start at 1.5265, while achieving them requires a base built below 1.5510.

The trading range for today is among the key support at 1.5265 and the key resistance at 1.5565.

The short term trend is to the upside as far as 1.5315 remains intact with targets at 1.7000.

Previous Report

Weekly Report

RecommendationBased on the charts and explanations above our opinion is selling the pair around 1.5340 targeting 1.5265 and stop loss above 1.5400, might be appropriate.