Morning Report

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The pair continues to trade negatively to fluctuate around 124.00 after breaching successfully the pivotal support at 124.55. This breach supports our expectations for an intraday downside move for today, awaiting acquiring the main target at 122.60 where we should monitor the price action there. Stability below 125.10 is required for our expectations to remain valid.

The trading range for the day may be among the 122.00 support and 125.65 resistance.

The short term trend is to the downside targeting 122.00 so long as 150.00 remain intact.

Previous Report

Weekly Report

Support123.95123.15122.60122.00121.30
Resistance124.55125.00125.65126.00126.55
RecommendationBased on the charts and explanations above we recommend selling the pair around 124.55 targeting 122.60 and stop loss above 125.70 may be appropriate.