Morning Report

The pair continued tradingto the downside within the minor bearish channel that regulates the pair trading from the resistance of the main bullish channel to its support. Therefore, we expect to continuethe intraday bearishness for today, mainlytargeting 0.8265. we expect that the positivity of Stochasticmay cause some volatility. The stability below 0.8550 is important to keep our expectations valid.

The trading range for today is among the major support 0.8265 and the major resistance 0.8550.

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

RecommendationBased on the charts and explanations above we recommend selling the pair around 0.8490 and take profits at two stages first at 0.8360 then 0.8265 and stop losses above 0.8585 might be appropriate for today.