Morning ReportResuming our harmonic series, we can see how the pair slipped attacking the pivotal support areas around 61.8% retracement of CD leg of our previous caught bearish harmonic butterfly pattern. The negative sign appearing on trend indicator still affect the pair negatively; whilst the lower line of Keltner channel is breached obviously. Thus, we hold onto our bearish anticipations over intraday basis, targeting 76.4% Fibonacci of CD leg, followed by 88.6% levels as seen on the provided daily graph.
The trading range for today is among key support at 130.50 and key resistance at 137.30.
The general trend over short term basis is to the downside, targeting 118.80 as far as areas of 150.75 areas remain intact.
|Recommendation||Based on the charts and explanations above our opinion is, selling the pair around 134.50 targeting 131.20 and stop loss above 136.20 might be appropriate.|