Morning Report

The pair continued fluctuating violently yesterday without breaching 82.50 or 81.50 until now. Those two edges are very important as we discussed earlier as a break above 82.50 will confirm the classical continuation structure-potential flag- while taking 81.50 will postpone the bullishness for a while. Technical indicators reflect this hesitation; thus, we will remain neutral over intraday basis.

The trading range for today is among key support at 80.20 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.

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Weekly Report

RecommendationBased on the charts and explanations above our opinion is, staying aside until an actionable setup presents itself to pinpoint the upcoming big move.