Morning Report

The lower line of Keltner channel continued representing a very solid support that protects the pair from collapse as seen on the provided daily chart. Meanwhile, the initial support areas of 0.9080 remain intact and Stochastic continues approaching oversold zones. But, RVI 14 is definitely negative contradicting with Stochastic. Thereby, we will hold onto our neutral stance over intraday basis; noting that a break below 0.9030 with a daily closing will bring a downside rally.

The trading range for today is among key support at 0.8965 and key resistance at 0.9260.

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

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Weekly Report

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