Morning Report

The pair stabilized below support for the broken rising wedge from yesterday, where yesterday's expectations remain intact. Therefore, we see that the expected direction for today is bearish that might force it to retest the broken level that has recently inclined to 89.95 before resuming the descend, where its targets start from 88.50 then 87.75. The four hour closing remained intact below 90.30, where it is vital to maintain chances of achieving these expectations.

The trading range for today is among the key support at 87.75 and the key resistance at 91.30.

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

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RecommendationBased on the charts and explanations above our opinion is selling the pair from 89.95 target 88.55 and stop loss above 90.30, might be appropriate.