Midday report

As we mentioned in our technical messages, the formation of the candlesticks has forced the pair to attack 129.80 once more, while the AROON on the 4h chart -secondary image - shows how the downtrend is very strong. Therefore, we keep our overview to the downside for the rest of the day as far as 132.50 remains intact.

Trading range for today is among key support at 126.50 and key resistance now at 134.15.

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.