Morning Report

The recently established sideways trading rangebetween 76.50 and 76.95 continued dominating the price action during the past period, while MACD traditional and Stochastic can't give off obvious signs as seen on the provided four hour-graph. Consequently, we are obliged to stay asideover intraday basis; noting that a break of 76.95 will trigger panic buying pressures since the pair consolidates above 23.6% Fibonacci of CD leg for the bullish harmonic AB=CD pattern. A break below 75.90-75.80 will damage this pattern completely.

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 upside, targeting 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.