Morning Report

The pair succeeded in resuming yesterday's awaited bearishness stabilizing below the sideways rang support at 0.9400, alongside trading below the previously breached descending channel's support level. These factors, alongside the negative pressure offered by the SMA 50, make us expect the bearish intraday direction to continue towards key targets starting from 0.9200. Keep in mind the importance of stabilizing below 0.9400 for our expectations to prevail.

The trading range for today is among the key support at 0.9150 and the key resistance at 0.9520.

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 0.9400 targeting 0.9200 and stop loss above 0.9520, might be appropriate.