Morning Report

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The pair is currently trading around the previous mentioned sensitive support areas as seen on the provided daily chart. Actually, it is still moving above 76.4% Fibonacci of CD leg of our captured bullish harmonic formation and thus, it may re-attack 100% level once more, while a close back below this level will threaten the scenario of reaching the full extended targets of the harmonic pattern. In the interim, Stochastic is entering oversold areas and thus, we will hold onto our neutrality over intraday basis until one of the above mentioned factors beats the other.

The trading range for today is among key support at 129.40 and key resistance at 136.20.

The general trend over short term basis is to the downside targeting 118.80 as far as areas of 150.75 areas remain intact.

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