Morning Report

The pair continued appearing negative signs of a bearish technical pattern, where its neckline is at 89.70. There are current attempts at breaching momentum indicators that show positive signs that could push the pair to bullishly correct, before insuring the breach and pave the way for achieving a possible bearish trend over an intraday basis; targeting 88.75 then 88.20. The breach of 90.45 could weaken chances of achieving the awaited bearish trend.

The trading range for today is among the key support at 88.20 and the key resistance at 90.45.

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 with the breach of 89.70 target 88.75 and stop loss above 90.45, might be appropriate.