Morning Report


The pair is now consolidating below the major resistance for the downside wave and also below the 50 MA at 132.60, while Stochastic provided a negative reversal. Those facts support our expectations for a bearish intraday move for today.

The trading range for today is among key support at 128.90 and key resistance now at 134.15.

The general trend is to the downside as far as 141.44 remains intact with targets at 100.00 followed by 88.97 levels.

RecommendationBased on the charts and explanations above our opinion is selling the pair from 132.25 targeting 130.05 and stop loss above 133.15 might be appropriate