Morning Report

The pair is stable below the critical support at 79.65, while the pair is gradually approaching the threshold to the general downside trend at 78.10. Some fluctuation is expected affected by oversold signs provided by momentum indicators, yet in general, we expect an intraday downside move today which requires the clear breach of 78.10 and stability below 79.65.

The trading range for today is among the major support at 76.50 and the major resistance at 79.65.

The short-term trend is to the downside as far as 89.35 remains intact with targets at 76.00.

Weekly Report

Previous Report

RecommendationBased on the charts and explanations above our opinion is selling the pair around 79.15 targeting 78.10 and stop loss above 79.65 might be appropriate.