Morning Report

The pair stabilized below support for the previously breached symmetrical triangle pattern to currently touch resistance for the bearish short term channel at 1.0630; therefore we expect a bearish trend today supported by stability below the MA 50, where technical targets start at 1.0500. We point out that these expectations depend on stability below 1.0670 - 1.0690 to prevail.

The trading range for today is among the key support at 1.0425 and the key resistance at 1.0700.

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

Previous Report Weekly Report

Support1.05751.04951.04251.03801.0350Resistance1.06301.06701.07001.07851.0835RecommendationBased on the charts and explanations above our opinion is selling the pair around 1.0630 targeting 1.0500 and stop loss above 1.0700, might be appropriate.