Morning Report


The daily closing below the initial resistance level of 148.60 has formed a clear bearish candlestick pattern that argues us to keep our proposed negative scenario over intraday basis. Therefore, the CD leg of our suggested harmonic [Bat] pattern is in favor, targeting 144.85 first followed by 141.60.Stochastic and AROON support our overview.

The trading range for today is among key support at 143.60 and key resistance at 153.40.

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

RecommendationBased on the charts and explanations above our opinion is, selling the pair at 148.15 targeting 145.90 and stop loss above 150.00 might be appropriate