Morning Report


Trading reversed to the downside after visiting the 38.2% Fibonacci level near 125.65, where price is approaching the 50 EMA and Stochastic enters oversold areas. Therefore, the pair is facing a sensitive levels , around the 124.40 support and 125.65 resistance, thus, we prefer to stay aside and monitor trading.

The trading range for the day may be among the 123.00 support and 127.00 resistance.

The short term trend is to the downside targeting 122.00 so long as 150.00 remain intact.

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RecommendationBased on the charts and explanations above we recommend staying aside awaiting more confirmations for the next move.