Morning Report


The pair succeeded in reaching the first detected technical objective around 134.15, where we think that a bearish harmonic AB=CD pattern has been completed. Thus; we think that the intraday overview is to the downside, supported by the breakout occurred below the uptrend line, seen on our provided chart. AROON supports our outlook.

Trading range for today is among key support at 130.50 and key resistance now at 136.10.

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

Weekly Report

RecommendationBased on the charts and explanations above our opinion is, selling the pair from 133.85 targeting 132.00 and stop loss above 135.25 might be appropriate.