Morning Report

The pair is still trading around resistance for the bearish trend shown in our previous report, where it has gradually descended around 1.1015. This fluctuation pushedStochastic from oversold areas to near overbought areas, thus continuously supporting the bearish direction. Therefore, the bearish direction is expected for today targeting mainly 1.0925. it is vital that stability is achieved below 1.1115 will maintain chances of achieving these expectations intact.

The trading range for today is among the key support at 1.0835 and the key resistance at 1.1115.

The short term trend is to the upside as far as 1.0200 remains intact with targets at 1.2295.

Previous Report Weekly Report

Support1.09701.09251.08751.08351.0785Resistance1.10151.10701.11151.11401.1175RecommendationBased on the charts and explanations above our opinion is selling the pair around 1.1015 targeting 1.0925 and stop loss above 1.1170, might be appropriate.