Morning Report

The pair closed above the MA 50 Days and accordingly breached 80.90 areas. This move might negate the downside move for some time, yet Stochastic is currently reflecting the inability to remain positive and might crossover negatively soon. Actually, the MA 100 at 81.60 was previously strong resistance and that might prevent the pair from resuming the upside move. We remain neutral to see if the pair will breach 80.90 or not.

The trading range for today is among the major support at 80.05 and the major resistance at 82.75.

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 we recommend observing trading today awaiting more confirmations