Moring Report

Trading continues within the sideways range shown above, and stabile below the MA 50. We expect the pair to resume the downside move for today within the main descending channel shown over four-hour basis above. Momentum indicators signal the possible volatility before moving towards targets targeting the sideways range support at 0.8325. Breaching areas of 0.8400 will be the key to extend the upside move.

The trading range for today is among the major support at 0.8170 and the major resistance at 0.8540.

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 8670 charts and explanations above our opinion is selling the pair with the breach of 0.8325 targeting 0.8170 and stop loss above 0.8415 might be appropriate