Morning Report

The pair achieved the first awaited target around the descending channel's support level 0.9460, while stochastic continues moving within oversold areas; thus, pushing for some fluctuation and a minor correctional slant before continuing the expected bearish intraday trend. Note that breaching 0.9520 yesterday is considered to be additional assurance for the suggested bearish trend.

The trading range for today is among the key support at 0.9270 and the key resistance at 0.9615.

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 0.9520 targeting 0.9380 and stop loss above 0.9615, might be appropriate.