Morning Report

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The pair settles below 117.95 again, where yesterday's session closed below this level after testing it numerously. In general, steady trading within the main descending channel and the 50 EMA factors that support our expectations for a downside move today, waiting acquiring the main targets that start at 116.80 and 115.40. Steady trading below 119.30 is required.

The trading range for the day is expected among the key support at 115.40 and the key resistance at 119.30.

The short term trend is to the downside as far as 150.00 remains intact with targets at 112.00.

Previous Report

Weekly Report

Support117.40116.80116.25115.40115.00
Resistance117.95118.70119.3020.25120.95
RecommendationBased on the charts and explanations above we recommend selling the pair around 117.95 targeting 116.25 and 115.00, stop loss with four-hour closing above 119.30 may be appropriate