Morning Report

SMA 50 is still preventing the pair from reaching the resistance at 84.85; while a negative intersection onStochastic signals that the previously suggested bearish intraday direction is still valid, with targets at 83.50 then 82.90 that requires a four-hour closing below 84.85.

The trading range for today is among the major support at 82.90 and the major resistance at 85.50.

The short term trend is to the downside as far as 91.55 is intact with targets at 82.60.

Previous Report

Weekly Report

RecommendationBased on the charts and explanations above our opinion is selling the pair around 84.65 targeting 83.50 and stop loss above 85.50 might be appropriate