Morning Report

The pair is close to retesting the previously broken support level that is currently turning into resistance around 0.9330, while stochastic enters overbought areas; therefore, making us hold onto expectations of a bearish intraday direction, supported by SMA 50 that is forming resistance against the intraday trading. The awaited targets start around 0.9200, while noting the importance of stability below 0.9330 to insure resuming expectations.

The trading range for today is among the key support at 0.9100 and the key resistance at 0.9360.

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 0.9330 targeting 0.9200 and stop loss above 0.9430, might be appropriate.