Morning Report


Despite the sharp inclines occurred yesterday but a bearish harmonic [Gartley pattern] has been captured. The clear overbought signs appearing on momentum indicators argue us to say that, descending actions are to be witnessed on intraday basis.

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 from 148.60 targeting 146.20 and stop loss above 150.50 might be appropriate.