Midday Report

In order togather the momentum it needs to activate the previous explained downside correction, the pair inclined testing the upper line of the four-hour descending triangle, where we think the intraday bearish moveis aboutto start. This anticipated correction is targeting the areas around 140.30 but the downtrend line should hold to protect the scenario.

The trading range for today is among key support at 137.90 and key resistance at 145.50.

The general trend is to the downside as far as 167.40 remains intact with target at116.00.

RecommendationOur morning expectations remain valid