Morning Report


After re-testing the initial support level of 0.9000 yesterday, the royal pair inclined sharply once more reviving that it's moving inside an impulsive upside wave. Hence, we keep the potential upside expectation over intraday basis, according to our suggested count as far as 0.8820 areas remains intact over the short term basis. Stochastic is still trending upwards, supporting our overview. A break of 0.9070 zones will add further bullish confirmation.

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 0.9035 targeting 0.9115 and stop loss below 0.8870 might be appropriate.