We still witness most of our trading wedged between 88.60 and 89.85, despite of the harmonic formation that is still correct and effective. Meanwhile, we need to exit this range and insure the breach of support 88.60 to insure that the bearish trend continues. Stochastic is giving off bullish signs; whereas the RSI is continuing to show negativity. We shall remain neutral today as we await for signs to insure the upcoming direction.
The trading range for today is among the key support around 87.40 and the key resistance around 91.85.
The short term trend is expected towards the upside as long as trading is above 84.00 with targets at 99.00.
|Recommendation||Based on the charts and explanation above our opinion is remaining neutral until signs appear to insure its upcoming direction.|