Morning Report

The pair completed the bullish correction at 50% Fibonacci that meets with the MA 200 and returned to resume the bearish direction previously shown. We expect a bearish intraday direction, which requires the breach of minor support 89.10 first and head towards 88.00 initially. It is important that the four hour closing remain below 90.80 so these expectations may prevail.

The trading range for today is among the key support at 87.65 and the key resistance at 91.10.

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

Morning Report Weekly Report

RecommendationBased on the charts and explanations above our opinion is selling the pair from 90.55 target 89.75 and stop loss above 91.20, might be appropriate.