Morning Report

In accordance with our yesterday's suggested negative scenario, the pair has slipped from our proposed entry zones around 83.05 as seen on the provided daily chart. The bearishness of momentum indicators and the negativity appearing on the candlesticks structure encourage us to suggest further downside movements over intraday basis. A break below yesterday's recorded low of 82.30 will accelerate the bearish wave mainly targeting 81.50 areas.

The trading range for today is among key support at 81.25 and key resistance now at 84.15.

The general trend over short term basis is to the upside, targeting 87.45 as far as areas of 75.20 remain intact.

Previous Report

Weekly Report

RecommendationBased on the charts and explanations above our opinion is, selling the pair around 83.00 targeting 81.20 and stop loss above 84.15 might be appropriate.