Weekly Report 22-26 / March / 2010

The pair continued trading in sideways manner since the fifth of March, despite of any trading below 92.15 which will maintain the bearish direction intact. Meanwhile, stabilizing below 89.60 failed and will stay on sideway trading as is and attempt to achieve the ongoing bullish direction. From here, we hold onto the neutral stance throughout this week. We recommend following up with the daily report and keeping up with the pair's movement towards 92.15 and 89.60.

The trading range for today is among the key support at 86.40 and the key resistance at 93.15.

The general trend is to the upside if we do not witness a daily close below 101.65 with targets at 82.60.

Previous Report

Support89.8089.0088.6088.2087.75
Resistance90.9091.1091.5092.2092.80
RecommendationBased on the charts and explanations above our opinion is to avoid trading awaiting more confirmation signs for the pair’s direction, might be appropriate.