Morning Report

The pair succeeded in breaching the neckline for the bearish technical pattern shown yesterday at 89.30; thus, achieving some bearish movement and returning to near retesting this breach, which is currently descending to 89.20. From here we expect the bearish intraday trend to continue today and head towards targets around 87.65, but keeping in mind the importance of trading below 90.25 to maintain chances of achieving this bearish direction.

The trading range for today is among the key support at 86.50 and the key resistance at 91.35.

The general trend is to the downside as far as 102.60 remains intact with targets at 84.95 and 82.60.

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RecommendationBased on the charts and explanations above our opinion is selling the pair at 89.20 To target 87.65 and stop loss above 90.25, might be appropriate