Morning Report

The pairmoved upwards, surpassing 38.2% Fibonacci correctional leveland inching closer to 50% around 0.9125, accompanying this ascend is major overbought signson Stochastic proving that the expected bearish intraday trend remains valid; targeting 0.9850 then 0.8885. Note that it is vital that the bearish trend continue as suggested and stabilize below 0.9180 for expectations to prevail.

The trading range for today is among the key support at 0.8885 and the key resistance at 0.9180.

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 0.9125 targeting 0.8900 and stop loss above 0.9245, might be appropriate.