Morning report


The royal pair is building a range area between 0.8905 and the resistance level of 0.9030. Hence, we keep the potential upside expectation over intraday basis, according to our suggested count as far as 0.8820 areas remains intact. Note that, breakout above 0.9030 is urgently needed to confirm this scenario. Stochastic is still positive.

The trading range is among the key support at 0.8760 and key resistance now at 0.9205.

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 0.8935 targeting 0.9030 and stop loss below 0.8860 might be appropriate.