Midday Report

As we mentioned in our technical messages, the pair is attacking the key support level of 0.9300 zones. This action confirms the harmonic bearish scenario as seen on the four-hour chart while the negative pressure obtained from shooting star pattern, as seen on the secondary image for the daily time frame, is to continue. Therefore, we keep our overview to the downside for the rest of the day.

The trading range is among the key support at 0.9130 and key resistance now at 0.9500.

The general trend is to the upside as far as 0.8020 area remains intact with targets at 1.0000 followed by 1.0400 levels.

RecommendationOur morning expectations remain valid