Morning Report

Trading exited the descending channel shown above, which signals possible slight upside movements to correction the move that might consolidate at 0.8455 -MA 50- before resuming the intraday bearishness for today. The main target resides at 0.8220 and requires stability below 0.8455.

The trading range for today is among the major support at 0.8150 and the major resistance at 0.8475.

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 0.8455 targeting 0.8300 and stop loss above 0.8550 might be appropriate