Morning Report

The pairhas beenable to push to the upside touching main resistance 91.90 -meeting point with resistance for the bullish resistance for the main channel that organizes the bearish short term wave-. There are bearish reversal signs that are appearing through the candles that point to the start of a bearish intraday wave; supported by negative crossover signs near to appearing on the stochastic, where the pair headed towards expectations towards levels 91.25 then 90.35. Keep in mind that the bearish short term wave requires the daily closing to remain below 91.90.

The trading range for today is among the key support at 90.35 and the key resistance at 92.50.

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 91.90 target 91.10 and stop loss above 92.50, might be appropriate.