Morning Report

The pair stopped the upside reversal at the retest areas of 1.5945 shown above on the chart. The strength of this level besides the MA 50 and Stochastic turning negativesignal an intraday downside move for today, but we should pay attention that consolidation above 1.5945 signal's the attempts to target the downside correction channel's resistance around 1.6210.

The trading range for today is among the major support at 1.5755 and the major resistance at 1.6045.

The short-term trend is to the upside with steady daily closing above 1.5315 targeting 1.7000.

Weekly Report

Previous Report

RecommendationBased on the charts and explanations above we recommend selling the pair around 1.5945 targeting 1.5755 and stop loss above 1.6045 might be appropriate today.