Morning Report

The pair has moved upwards yesterday but couldn't take the key resistance level around 0.9220 where a minor downtrend line-colored in blue- was formed as seen on the provided graph. The positivity of RVI14 indicator contradicts with the weak sign appearing on Stochastic while trading is trapped between the above mentioned important resistance and the key support of 0.9105. Therefore, we will stay aside today until the pair clears one of those levels to confirm the next big move.

The trading range for today is among key support at 0.8985 and key resistance at 0.9400.

The general trend over short term basis is to the upside, targeting 0.9950 as far as areas of 0.8850 areas remain intact.

Previous Report

Morning Report

RecommendationBased on the charts and explanations above our opinion is, staying aside until an actionable setup presents itself to pinpoint the upcoming big move.