Morning Report


Pivotal resistance areas 143.60 have been capable of preventing the pair from achieving the bullishness, seen on our provided daily chart. Currently, the pair is breaching the Fibonacci level of 161.8% for the BC leg, after forming a clear bearish candlestick formation. This couple of technical facts encourages us to predicate possible downside movements over intraday basis, supported by bearish sign appearing on RSI 14.

The trading range for today is among key support at 139.10 and key resistance at 145.50.

The general trend over short term basis is to the downside, targeting 126.80 as far as areas of 150.75 areas remain intact.

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RecommendationBased on the charts and explanations above our opinion is, selling the pair from 142.75 targeting 139.40 and stop loss above 144.80 might be appropriate.