Morning Report

The secondary image of the four-hour interval is forming an obvious evening star candlestick pattern. Therefore, we believe that the pair might activate the bearish classical scenario of the double top that we explained in details yesterday, particularly after covering the gap. A breakout below 141.50 is needed to confirm theseproposed negative anticipations over an intraday basis.

The trading range for today is among key support at 138.60 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 146.20 areas remain intact.

Weekly Report Previous Report

Support141.50140.80140.50140.00139.10Resistance141.85142.35143.00143.60144.25RecommendationBased on the charts and explanations above our opinion is, selling the pair with a breakout below 141.50 targeting 139.10 and stop loss above 143.60 might be appropriate.