Morning Report

The pair continues trading between 1.0550 and 1.0495 ,in an attempt to gain enough downside momentum to support our previous expectations. We still see the likelihood for a downside move over intraday basis today, which will be activated with the breach of the neckline at 1.04850 to head towards 1.0350; this scenario requires 1.0655 to remain intact.

The trading range for today is among the major support at 1.0350 and the major resistance at 1.0655.

The short term trend is to the downside as far as 1.1.1095 is intact with targets at 0.9910.

Previous Report

Weekly Report

Support1.04851.04251.03501.03101.0235
Resistance1.05501.06051.06451.06851.0715
RecommendationBased on the charts and explanations above our opinion is selling the pair with the breach of 1.0485 targeting 1.0350 and stop loss above 1.0565, might be appropriate