Sideways trading is dominating the pair's movement among 128.15 and 126.65 levels, where stochastic lost the upside momentum over four-hour basis. Therefore, we hold onto our bearish intraday expectations for today, targeting initially the support level of the aforementioned range followed by 125.65. Stability below 128.15 is required for our expectations to remain valid.
Trading range for the day is among the major support at 124.00 and the major resistance at 129.40.
The short term trend is to the downside targeting 112.00 as long as 150.00 remain intact.
|Recommendation||Based on the charts and explanations above we recommend selling the pair around 128.15 targeting 125.65, stop loss above 129.40|