Morning Report

One more time, the pivotal resistance areas around 76.95 prevented the pair from achieving the awaited upside action according to the suggested Elliott count. The resistance which the pair found yesterday has activated a negative overlapping sign on Stochastic indicator. Thereby, we are forced to stay aside today until the pair eliminates the sideways trading range; noting that a break of 75.80 will trigger a panic sell-off action.

The trading range for today is among key support at 75.25 and key resistance now at 78.45.

The general trend over short term basis is to the upsidetargeting 87.45 as far as areas of 75.20 remain intact.

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Weekly Report

RecommendationBased on the charts and explanations above our opinion is, staying aside until an actionable technical setup presents itself to pinpoint the next big move.