After the sharp drop that took the pair to 142.00 zones yesterday, the pair inclined and succeeded in stabilizing above the pivotal resistance areas of 143.60. The bullishness, explained in the weekly report came back into focus to complete the CD leg of our suggested duplicated harmonic formation. A break of 144.90 will be able to accelerate the proposed positive scenario over intraday and short term basis.
The trading range for today is among key support at 139.10 and key resistance at 146.70.
The general trend over short term basis is to the downside, targeting 126.80 as far as areas of 150.75 areas remain intact.
|Recommendation||Based on the charts and explanations above our opinion is, buying the pair from 143.15 targeting 145.50 and stop loss below 141.50 might be appropriate|