Morning Report

Main resistance for the bearish direction stood strong against the dollar versus swissy attempts to ascend; thus, returning the bearish direction's frequency once again, shown in the image above. The clear oversold signs appearing through the stochastic could force the pair to attempt some minor bullish correction to stabilize and then continue the bearish direction. From here we see that the expected direction for today could be bearish over an intraday basis; targeting mainly 0.9900 - 0.9840, which requires the daily close remaining below 1.0155.

The trading range for today is among the key support at 0.9840 and the key resistance at 1.0175.

The general trend is to the downside as far as 1.1225 remains intact with targets at 0.9600.

RecommendationBased on the charts and explanations above our opinion is selling the pair from 1.0065 targeting 1.9950 and stop loss above 1.0000, might be appropriate.