Midday report

The momentum and trend indications support the negative overview, which is based on the suggested daily scenario of Elliott waves studies which offers the possibility of starting the internal third wave. Therefore we keep our overview to the downside for the rest of the day.

Trading range for today is among key support at 131.00 and key resistance now at 137.40.

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

RecommendationOur morning expectation is still valid.