Morning Report

The pair remains trapped within a very narrow range after as seen on the provided daily chart. Stochastic and RSI 14 may started to show positive signs that may cause an upside recovery but trading below 81.50 resistance and the negativity on Vortex indicator -trend indicator- are reasons that force us to stay aside over intraday basis. Note that, break below 80.50 followed by 80.00 will bring additional bearish pressures.

The trading range for today is among key support at 79.55 and key resistance now at 82.20.

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.