Morning Report

The pair is trading within the above mentioned descending channel. After touching the support levels near 1.0070, the pair reversed to the upside and showed a rising technical pattern with a subsidiary neckline at 1.0180, accordingly, normal trading within the channel will be witnessed before targeting the resistance at 1.0305. A bullish intraday direction is projected, requiring a breach for the previously mentioned neckline along with stability above 1.0105.

The trading range for today is among the major support at 1.0000 and the major resistance at 1.0305.

The short term trend is to the upside as far as 1.0035 is intact with targets at 1.1120.

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Weekly Report

RecommendationBased on the charts and explanations above our opinion is selling the pair with the breach of 1.0180 targeting 1.0305 and stop loss below 1.0105 might be appropriate