Morning Report

Weekly Report Monthly Report

Minor support for the minor bearish channel - at 0.9960 - forced the dollar versus swissy to rebound and attempt to bullishly correct by the pair to gain some bearish momentum that will support the expected bearish wave yesterday. The pair currently stands at 23.6% correction. From here we see the a bearish short term direction is expected to continue to initially target 0.9940, while supported by oversold signs on the stochastic and resistance for the minor channel that was previously mentioned. It is essential that the daily closing remains below 1.0115 to insure the expected bearish direction prevails.

The trading range for today is among the key support at 0.9775 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.

Weekly Report Monthly Report

RecommendationBased on the charts and explanations above our opinion is selling the pair from 1.0015 targeting 0.9900 and stop loss above 1.0115, might be appropriate.