Morning Report

The pair maintains stability above the 80.75 while the MA 50 continues to pressure trading. Therefore, we expect an intraday downside move today supported by the clear negativity on Stochastic. The main targets start at 79.00 while breaching 79.65 will accelerate the downside move.

The trading range for today is among the major support at 78.00 and the major resistance at 81.40.

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 with the breach of 79.65 targeting 78.00 and stop loss above 80.75 might be appropriate