Morning Report


Friday's shooting star candlestick pattern was confirmed by yesterday's long black pattern as seen on the secondary image. Henceforth, the bearishness appearing on the weekly chart or rather the main chart still affects the movements of the pair since SMA 50 acted the role of a ceiling for the current movements as well. Additionally, the negative signs of OsMA and Stochastic are still appearing obviously. As a consequence, we hold onto our negative predictions over intraday basis; whilst a break of 132.50 will bring panic sell-off pressures.

The trading range for today is among key support at 131.05 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.

Previous Report

Weekly Report

RecommendationBased on the charts and explanations above our opinion is, selling the pair around 133.45 targeting 131.05 and stop loss above 135.50 might be appropriate.