Midday report

A continuation flag pattern has been formed on the 4h chart as seen on the secondary image, supporting the expected bearish wave of the daily sequence under the pressure of 61.8% Fibonacci. Therefore we keep our overview to the downside for the rest of the day.

Trading range for today is among key support at 126.50 and key resistance now at 136.60.

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



Support130.50129.80129.25128.60127.80
Resistance131.40132.00132.50133.10133.80
RecommendationOur morning expectation is still valid.