Morning Report

The pair gradually moved towards the retest level for the broken rising wedge pattern that has turned into resistance and ascended towards 0.9245, accompanied by this ascend is stochastic losing bullish momentum and entering overbought areas. Hence, we expect a bearish intraday direction that starts targets around 0.9105 then 0.9025, while essentially requiring stability below 0.9245.

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 selling the pair around 0.9245 targeting 0.9105 and stop loss above 0.9330, might be appropriate.