Morning Report

The sideway range continues gripping the pair's trading as shown above, where the positivity of momentum indicators will add strength to support for this range at 87.30. In overall, our previous expectations will remain intact as we expect a bearish intraday trend that will start with the breach of 87.30 to pave the way towards 86.60 then 85.35. Keep in mind the importance of trading below 88.00 - 88.40 to insure achieving the suggested scenario.

The trading range for today is among the key support at 85.80 and the key resistance at 88.40.

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

Previous Report Weekly Report

Support87.3086.9086.4085.8085.35Resistance88.0088.4088.9589.4089.70RecommendationBased on the charts and explanations above our opinion is selling the pair with the breach of 87.30 targeting 86.40 and stop loss above 88.00, might be appropriate.