Morning Report

The pair remained stable above the critical support at 0.8625 after fluctuating yesterday within a tight range which pressured Stochastic near overbought areas. Those facts alongside the minor descending channel shown above sustained by the SMA 50 support our expectations for an intraday downside move today targeting 0.8400 and require stability below 0.8700.

The trading range for today is among the major support at 0.8400 and the major resistance at 0.8730.

The short term trend is to the downside with steady daily closing below 1.0330 targeting 0.8000.

Previous Report

Weekly Report

RecommendationBased on the charts and explanations above our opinion is selling the pair around 0.8625 targeting 0.8485 and stop loss above 0.8725 might be appropriate