Morning Report

In the weekly image above, the pair was able to breach main resistance for the bearish direction, accompanied by positive signs on momentum indicators that could be harmonic technical pattern that is currently being formed and with expectations of a bullish direction towards ascending levels, shown in the above image. Today, the pair is proving its strengths regarding the breach of MA 50 to prove the bullish direction, but in overall we expect that the pair entered bullish wave that maintains the possibility of trading remaining above 90.95.

The trading range for today is among the key support at 90.95 and the key resistance at 93.30.

The short term trend is to the downside as far as 101.65 remains intact with targets at 82.60.

Previous Report Weekly Report

RecommendationBased on the charts and explanations above our opinion is selling the pair from 91.90 target 94.05 and stop loss below 90.95, might be appropriate.