Midday Report

The secondary four-hour chart shows that the pair is still moving below 61.8% area, while the bearish channel on the daily chart pressures it negatively. Hence, we keep our intraday overview to the downside based on the previous explained double top pattern. A break of 149.60 will clear the path towards the neckline for the pattern around 146.80.

The trading range for today is among key support at 145.50 and key resistance at 155.00.

The general trend is to the downside as far as 167.40 remains intact with target at116.00.

RecommendationOur morning expectation is still valid