Morning Report

The pair ended yesterday below 80.00 which is a negative signal and more downside pressure alongside EMA 50 and the recent breach of the continuation pattern. Therefore, we expect the pair to move to the downside today starting with the breach of 79.50 towards 78.00. The positivity on Stochastic might keep the volatility seen for some time.

The trading range for today is among the major support at 78.00 and the major resistance at 81.10.

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

Previous Report

Weekly Report

Support79.5079.0078.4078.0077.70
Resistance80.7581.1582.0082.5083.10
RecommendationBased on the charts and explanations above our opinion is selling the pair with the breach of 79.55 targeting 78.00 and stop loss above 80.75 might be appropriate