The pair continues to trade within the side-ways range -shown on image- after attempting to breach the support of the range once. Accordingly, we will continue to hold onto our weekly scenario as the pair should breach either the support of the range at 121.00 or the resistance at 122.25. Therefore, we recommend reviewing our weekly report for more details.
The trading range for the day may be among the 119.30 support and 123.15 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 buying the pair with a breach above 122.25 targeting 124.00 and stop loss below 121.00 OR selling the pair with a breach below 121.00 targeting 119.30 and stop loss above 122.25 may be appropriate|