Morning Report

The pair moved to the upside surpassing the retest level around 0.9855, but has found resistance around 0.9890 represented in SMA 50 that touches the minor ascending channel's resistance level, where we expect it to represent the flag pattern. Stochastic is giving off clear overbought signs and thereby making us expect a bearish intraday direction that will start its key targets around 0.9765, while resuming these targets requires stability below 0.9935.

The trading range for today is among the key support at 0.9765 and the key resistance at 1.0000.

The short term trend is to the downside as far as 1.0330 remains intact with targets at 0.8000.

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Weekly Report

RecommendationBased on the charts and explanations above our opinion is selling the pair around 0.9890 targeting 0.9765 and stop loss above 0.9935, might be appropriate.