Morning Report

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Trading remain confined within the pivotal levels we mentioned yesterday among the 121.00 support and 122.25 resistance, while the 50 EMA is pressuring intraday trading negatively, opposed by positivity on stochastic over the daily time-frame, thus, we will monitor trading round these levels, where breaching 121.00 will push the pair towards 119.30, on the other hand breaching 122.25 will open the door towards further bullish correction and 125.65.

The trading range for the day may be among the 119.30 support and 123.35 resistance.

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

Previous Report

Weekly report

Support121.00120.70120.00119.30119.00
Resistance121.50122.25122.60123.15123.80
RecommendationBased on the charts and explanations above we recommend buying the pair with a breach above 122.25 targeting 124.00 and stop loss below 121.00 OR selling the pair with a breach below 121.00 targeting 119.30 and stop loss above 122.25 may be appropriate