Morning Report

The pair succeeded in reaching the determined technical objective of the bullish harmonic AB=CD pattern that we mentioned in our yesterday's reports flawlessly as seen on the provided four-hour chart. Now, facing the resistance line-previous support- of the trading range areas could cause a slight downside correction but the daily candlestick structure proves that more bullishness could be seen over intraday basis towards the extreme targets of the pattern at 136.80 zones.

The trading range for today is among key support at 129.80 and key resistance at 136.80.

The general trend over short term basis is to the downside, targeting 118.80 as far as areas of 150.75 areas remain intact.

Weekly Report Previous Report

Support133.15132.50131.65130.50130.00Resistance133.60134.25135.50136.20136.80RecommendationBased on the charts and explanations above our opinion is, buying the pair around 132.80 targeting 135.50 and stop loss below 130.80 might be appropriate.