Morning Report

The pair breached the bearish direction's resistance level with yesterday's closing above it and thereby placing the bearish intraday trend in suspicion, pushing to the upside and finding volatile resistance around 61.8% Fibonacci correction appearing in the image above accompanying stochastic's negativity; therefore, causing negative pressure that will attempt to retest the bearish trend. Crossover signs previously highlighted make us recommend observing intraday trading, specifically 82.50 and 82.25 that holds the keys to insuring the upcoming intraday direction.

The trading range for today is among the key support at 81.05 and the key resistance at 83.70.

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 explanation above our opinion is observing the pair’s movement to insure its upcoming direction.