Morning report


The royal pair is still building the potential reversal zones for our suggested harmonic structure [AB=CD] around 0.8975-0.8980, while it succeeded in forming positive candlestick formation alongside positive crossover, appearing on Stochastic. Thus; we keep our outlook to the upsideover the intraday basis, supported by the positive sign that started to appear on AROON indictor.

The trading range is among the key support at 0.8820 and key resistance now at 0.9260.

The general trend is to the upside as far as 0.8020 area remains intact with targets at 1.0000 followed by 1.0400 levels.

RecommendationBased on the charts and explanations above our opinion is, buying the pair from 0.8980 targeting 0.9070 and stop loss below 0.8905 might be appropriate.

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