US
UK
Chinese
Japanese
Hong Kong
Australia
Spanish
Deutsch
Portuguese
Korean
French
Russian
Morning Report
 |
We will make it very simple today as we witnessed a sharp incline yesterday affected by the bullish harmonic AB=CD pattern of the four hour interval that was discussed in details in yesterday's report. Now, we have two positive signs that can assist the pair to achieve additional bullishness over intraday basis as follows:
1-The positive divergence, which was formed on RSI 14.
2-Yesterday's clear bullish candlestick pattern.
Note that, there is a solid sell wall between 130.50 and 130.80-shaded in gray- and any breakout above it could send the pair higher towards 132.50 zones.
The trading range for today is among key support at 126.70 and key resistance at 132.50.
The general trend over short term basis is to the downside, targeting 118.80 as far as areas of 150.75 areas remain intact.
Like us on Facebook
| Support | 129.25 | 128.75 | 128.00 | 127.40 | 126.80 |
| Resistance | 130.00 | 130.50 | 130.80 | 131.65 | 132.50 |
| Recommendation | Based on the charts and explanations above our opinion is, buying around 129.25 targeting 131.65 and stop loss below 127.30 might be appropriate. | ||||
