Morning Report

The pair succeeded in achieving the suggested scenario yesterday flawlessly, where it rebounded to the upside after touching support for the minor descending channel. Some fluctuation is expected and is expected to build a base on 92.30 followed a bearish reversal, where the pair through it can achieve the bearish intraday direction; the first main target is at 91.00. It is vital that 92.75 remain intact to insure achieving these expectations.

The trading range for today is among the key support at 91.00 and the key resistance at 92.75.

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

Previous Report Weekly ReportSupport91.4591.0090.6590.2089.50Resistance92.3092.7593.3094.0094.80RecommendationBased on the charts and explanations above our opinion is selling the pair from 92.30 target 91.00 and stop loss above 93.30, might be appropriate.