Morning Report

The pair was able to breach pivotal support mentioned in our midday report around 0.9125, which we expect will activate the bearish technical factor appearing through the four hour interval. This factor along with the negative pressure offered by SMA makes us hold onto expectations of continuing the bearish intraday direction since targets start around 0.9000 then 0.8885. Stability is below 0.9190 and will maintain chances of resuming expectations.

The trading range for today is among the key support at 0.8885 and the key resistance at 0.9255.

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 around 0.9125 targeting 0.8950 and stop loss above 0.9235, might be appropriate.