Morning Report

The pair is attempting to breach 0.8305, which remains the defining barrier for the pair's direction. Over hourly basis, the downside move is organizing the movement, as the main resistance for this direction is at 0.8355 while the MA 50 around 0.8335 is a critical resistance now. Momentum indicators are turning negative, and not rebounding from 0.8305 makes us favor the downside move for today if the four-hour closing is below 0.8305.

The trading range for today is among the major support at 0.8170 and the major resistance at 0.8500.

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

Previous Report

Weekly Report

RecommendationBased on 8670 charts and explanations above our opinion is selling the pair with four-hour closing below 0.8305 targeting 0.8170 and stop loss above 0.8420 might be appropriate