Morning Report

The pair stabilized below pivotal support 1.0395 shown yesterday; therefore, the bearish trend scenario could be activated. From here, we can expect a bearish intraday trend due to support from trading belowSMA 50, where targets start at 1.0280 then 1.0200. We point to the breach of 1.0470 could postpone the bearish trend for today.

The trading range for today is among the key support at 1.0200 and the key resistance at 1.0560.

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

Previous Report

Weekly Report

RecommendationBased on the charts and explanations above our opinion is selling the pair around 1.0395 targeting 1.0280 and stop loss above 1.0470, might be appropriate.