Morning Report

The pair attempted to breach critical 0.9300 once again, but found strong support around it that will support the positivity of stochastic. We think that positivity will push the pair to bullishly correct and build a base on 0.9430 before resuming the expected bearish intraday direction, since its key targets start at 0.9200. SMA 50 supports the bearish trend's trading within the descending short term channel. Keep in mind the importance of stabilizing around 0.9500 in order for the bearish trend to remain valid.

The trading range for today is among the key support at 0.9200 and the key resistance at 0.9500.

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

Previous Report

Weekly Report

RecommendationBased on the charts and explanations above our opinion is selling the pair around 0.9430 targeting 0.9270 and stop loss above 0.9505, might be appropriate.