Morning Report

The stable move above the initial support levels of 144.90 support the technical idea that the IM impulsive wave is still in progress to place the fifth wave according to the captured Elliott sequence. Mild correction might occur before resuming the possible bullishness over intraday basis.

The trading range for today is among key support at 141.50 and key resistance at 148.30.

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

Support144.90144.45143.60142.75142.20Resistance145.50146.20146.90147.65148.30RecommendationBased on the charts and explanations above our opinion is, buying the pair from 144.90 targeting 147.60 and stop loss below 142.70 might be appropriate.