Morning Report

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The secondary image of the four hour interval shows a clear bearish candlestick construction that encourages us to say that, the pair might achieve additional downside corrective movementsbefore resuming the AB=CD scenario as RSI 14 and AROON are still giving off negative signs. Breakout below 136.20 will confirm this proposed correction.

The trading range for today is among key support at 133.15 and key resistance at 140.00.

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

Support136.20135.50134.80134.25133.60
Resistance137.30137.90138.40139.10139.75
RecommendationBased on the charts and explanations above our opinion is, selling the pair with a breakout below 136.20 targeting 133.90 and stop loss above 137.90 might be appropriate.