Morning Report

The pair managed to achieve a sharp drop yesterdayfor about600 points, while rebounding sharply; whereas we see that the bullish correction for this volatile bearish wave that is close to touching breached support has currently turned into resistance at 93.00. We think that the pair will head towards achieving more bearish intraday movement; where key targets are at 90.40 and require the daily closing below 93.00 to prevail.

The trading range for today is among the key support at 90.40 and the key resistance at 93.00.

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

Previous Report Weekly ReportSupport91.4590.9090.4590.0589.65Resistance93.0094.0094.8095.1595.60RecommendationBased on the charts and explanations above our opinion is selling the pair from 93.00 target 91.45 and stop loss above 94.00, might be appropriate.