Morning report


The royal pair has been trapped since yesterday between 0.9020 and 0.9070 areas, but it's still supported by the lower line of the minor ascending channel. Thus,the bullish effect obtained from our proposed bullish harmonic formationwill continue.Thereby, we keep our intraday outlook to the upsideas far as areas of 0.8980 remain unbroken.

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 with a breakout above 0.9050 targeting 0.9145 and stop loss below 0.8975 might be appropriate.