Morning Report

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The long white candlestick, which was formed yesterday added further confirmation that the pair is forming the CD leg of the harmonic AB=CD structure as seen on the provided daily chart. AROON is still moving freely above the value of 70.00 and whilst RSI is moving higher. Thereby, we keep our suggested positive overview unchanged. For more details, check the weekly report.

The trading range for today is among key support at 134.25 and key resistance at 140.50.

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 Previous Report

Support136.80136.20135.50134.80134.25
Resistance137.30138.40139.10139.75140.00
RecommendationBased on the charts and explanations above our opinion is, buying the pair around 136.50 targeting 139.10 and stop loss below 134.80 might be appropriate.