Morning Report

The pair maintained the fluctuations in a tight range around the MA 50, while Stochastic provided overbought signs reflecting that the negative pressure is still valid on the pair and accordingly we expect an intraday downside move that requires the breach of 80.30 and stability below 81.50.

The trading range for today is among the major support at 79.65 and the major resistance at 82.50.

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

Morning Report

Weekly Report

RecommendationBased on the charts and explanations above our opinion is selling the pair around 81.55 targeting 80.35 and stop loss above 82.20 might be appropriate