Trading continued positively yesterday, however, maintained stability below 125.00, and this supports the suggested downside move. In general, we will count on settling below the 38.2% in addition to negativity on stochastic to hold onto our expectations for a downside move today, targeting 122.60 mentioning that 125.10 should remain intact for our expectations to remain valid.
The trading range for the day may be among the 122.00 support and 127.00 resistance.
The short term trend is to the downside targeting 122.00 so long as 150.00 remain intact.
|Recommendation||Based on the charts and explanations above we recommend selling the pair around 125.10 targeting 122.60 and stop loss with hourly closing above 125.70 might be appropriate.|