Weekly Report (Aug 30 - Sept 3)
The pair ascended to touch the downside channel's resistance levels at 85.75, which appears as a normal trading that enabled the pair to appreciate from the support levels of channel to its resistance levels, - As indicated in the above chart - the momentum indicators are showing signs of overbought areas forcing a downsidemove duringthis week, targeting 84.00 then 82.55, with the importance of a daily closure below 86.35 in order to achieve these expectations.
The trading range for today is among the major support at 82.55 and the major resistance at 87.00.
The short term trend is to the downside as far as 91.55 remains intact with targets at 82.60.
|Recommendation||Based on the charts and explanations above our opinion is selling the pair around 85.75 targeting 84.30 and stop loss above 86.45 might be appropriate|