Morning Report

The pair stabilized below MA 50 adding negative pressure onto the pair pointing to more bearish intraday movement. Signs of a bearish technical pattern are shown above on the four hour chart, where it encourages us to expect a bearish scenario; targets start at 92.70 then 92.25. Keep in mind the importance of maintaining stability above 93.35 will make the suggested bearish scenario fail.

The trading range for today is among the key support at 92.25 and the key resistance at 94.00.

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

Previous Report Weekly ReportSupport92.7092.2591.6090.9090.45Resistance93.3594.0094.8095.5596.00RecommendationBased on the charts and explanations above our opinion is selling the pair from 93.35 target 92.25 and stop loss above 94.00, might be appropriate.