Morning Report

The pair is trading with an upside bias since yesterday with signs of a minor bearish pattern seen, which we believe will organize the intraday bearish wave expected after the pair approaches the main descending channel's resistance shown above. Therefore, we expect an intraday downside move today targeting areas of 0.8650 and require stability below 0.8915.

The trading range for today is among the major support at 0.8600 and the major resistance at 0.8945.

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

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Weekly Report

RecommendationBased on the charts and explanations above our opinion is selling the pair around 0.8800 targeting 0.8650 and stop loss above 0.8945 might be appropriate