The pair was able to touch the technical target not onlyfor yesterday's scenario or for weekly reportbutit reachedthe technicaltarget of the short term basis at 126.80 zones, which we defined long time ago-check the recorded low-. Now, the bullish harmonic AB=CD pattern of the four-hour chart shows that correctional upside movements are to be witnessed over intraday basis, supported by the positive divergence appearing on Stochastic. Note: in the next week we will discuss together the potential targets of the short and medium term basis.
The trading range for today is among key support at 125.00 and key resistance at 135.50.
The general trend over short term basis is to the downside, targeting 126.80 as far as areas of 150.75 areas remain intact.
Support129.10128.40127.60126.80125.00Resistance130.00130.50131.75132.50133.60RecommendationBased on the charts and explanations above our opinion is, buying the pair from 129.10 targeting 131.90 and stop loss below 126.80 might be appropriate.