Morning Report

The pair continues trading to the downside since yesterday as it inches closer to the previously broken resistance's retest level that has currently turned into support around 0.9090. Stochastic is showing clear oversold signs that make us expect to witness some upside movement today after rebounding from the mentioned retest level. Note that the breach of the mentioned level will pave the way to return and resume the bearish trend within the previously broken downside channel.

The trading range for today is among the key support at 0.9000 and the key resistance at 0.9330.

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 buying the pair around 0.9090 targeting 0.9235 and stop loss below 0.9000, might be appropriate.