Weekly Report 19/04 -23/ 04 / 2010

The mixture studies between harmonic analytical schools and classical patterns proved that, the potential reversal zones have been completed via forming double top pattern as seen on the provided daily chart. The gap could be covered around the neckline before resuming the proposed bearishness during this week. Indicators support our negative scenario.

The trading range for this week is among key support at 134.70 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.

Previous Report

Support139.10138.40137.30136.20135.50Resistance140.50141.50142.35143.60144.90RecommendationBased on the charts and explanations above our opinion is, selling the pair from 141.50 targeting 136.45 and stop loss above 144.90 might be appropriate.