Morning Report

The dollar versus swissy is trading within a minor ascending channel represented in the flag pattern that is considered a bullish correction or the last descending wave, which was able to breach support for the descending channel, shown in the image above. the stochastic is showing overbought signs that make us predict a possible bearish intraday direction that will start to breach minor support 1.0150 and then head towards the first main target at 1.0055. It is important that 1.0260 remain intact to maintain chances of achieving these expectations.

The trading range for today is among the key support at 1.0000 and the key resistance at 1.0300.

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

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RecommendationBased on the charts and explanations above our opinion is selling the pair with the breach of 1.0150 targeting 1.0055 and stop loss above 1.0230, might be appropriate.