Morning Report

The pair held onto stability below 0.9330, along with trading that continues within the minor upside channel - continuous flag pattern -. In addition, stochastic headed to the downside contributed to the negative pressure on the pair to trade below the MA 50. These factors make us expect a bearish intraday direction beginning key targets around 0.9100, which require two main factors to continue; first, a clear breach of 0.9275 and the second is trading stability below 0.9390.

The trading range for today is among the key support at 0.9100 and the key resistance at 0.9430.

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 with an hourly closing below 0.9275 targeting 0.9100 and stop loss above 0.9330, might be appropriate.