Morning Report


Finally, the pair has found the potential reversal zones (D1) for the bullish harmonic structure(AB=CD)as seen on the daily chart. The candlestick formation of yesterday in addition to the positive sign appearing on momentum indicator will be able to push the pair upwards over intraday basis.

Trading range for today is among key support at 123.10 and key resistance now at 129.40.

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

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RecommendationBased on the charts and explanations above our opinion is, buying the pair from 126.00 targeting 127.90 and stop loss below 124.50 might be appropriate.