Morning Report

Trading remains stable and below 1.0180 levels the holds the key for further bullishness to the descending channel's resistance levels shown in the above chart. Despite the positive momentum signs appearing on the four-hour chart, a negative pressure forces the pair to depreciate and preventing the ascending scenario, therefore, observing today's trading is recommended, especially a daily closing below 1.0035 levels, which if obtained, would accelerate the bearish short-term trend.

The trading range for today is among the major support at 0.9915 and the major resistance at 1.0290.

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 to observe trading in order to extract further clues that determines the next big moves.