Morning Report

The pair is providing signs of exhaustion, where RSI and Stochastic formed a bearish divergence as shown on image, while price has gone kind of parabolic recently. We continue to anticipate a downside pullback towards the shaded area. A breach below the first trend line (dashed line) may lead to a test of the second potential trend line and major support around 80.00.

The trading range for the day is expectedamong key support at 80.00 and key resistance now at 83.00.

The general trend over short term basis is to theupsidetargeting87.45as far as areas of75.20remain intact.

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Weekly Report

RecommendationBased on the charts and explanations above we recommend, buying the pair above 80.00 targeting 81.65 and 84.00. Stop loss below 79.00.