Morning Report

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The hourly chart offers a duplicated bullish harmonic formation that might support the predicted bullish action during this week as we discussed yesterday. The secondary image shows that, the pair succeeded in forming a positive candlestick structure supports the bullish overview on the intraday basis. Stochastic also supports the outlook.

Trading range for the week is among key support at 143.25 and key resistance at 153.40.

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

Weekly Report

Support147.40146.80146.20145.50145.00
Resistance148.15149.00149.35150.00150.60
RecommendationBased on the charts and explanations above our opinion is, buying the pair from 147.80 targeting 150.40 and stop loss below 145.90 might be appropriate.