Morning Report

Two positive technical factors have appeared on the provided four-hour chart that might confirm the completion of thesuggested Elliott structure of the CT of wave B.

1-A minor bullish harmonic formation.

2-A positive crossover appears obviously on Stochastic indicator.

Henceforth, we believe that wave C is currently under preparation and consequentlypotential upside actions could be witnessed over intraday basis.

The trading range for today is among key support at 129.80 and key resistance at 135.50.

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

Support132.50131.60131.25130.50129.80Resistance133.15134.25134.80135.50136.20RecommendationBased on the charts and explanations above our opinion is, buying the pair around 132.50 targeting 135.30 and stop loss below 130.50 might be appropriate.