Morning Report

The pair returned to retest the breached critical support level around 81.85, accompanied by a negative crossover from stochastic on the four hour interval; therefore, we expect a bearish intraday trend due to the bearish technical pattern's effect that has been formed by breaching 81.85, alongside stabilizing below the bearish trend's resistance level. Awaited targets start at 80.35. Keep in mind the importance of breaching 81.85, could postpone resuming these targets.

The trading range for today is among the key support at 80.35 and the key resistance at 82.55.

The short term trend is to the downside as far as 89.35 remains intact with targets at 77.70.

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Weekly Report

RecommendationBased on the charts and explanations above our opinion is selling the pair around 81.85 targeting 80.35 and stop loss above 82.55, might be appropriate.