Midday Report

The pair has reached the detected technical target at 135.30 zones, which represent the key resistance over short and medium term basis that may be able to activate the internal third wave as we see on the provided daily chart, as the daily sequence of Elliott offers a potential impulsive downside wave. Consequently, we keep our overview to the downside for the rest of the day.

The trading range for today is among key support at 131.60 and key resistance now at 138.25.

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

RecommendationOur morning position is still in progress