Morning Report


The royal pair is still moving steadily above the pivotal support arrears of 0.8905 forming a bullish candlestick formation on the four-hour chart. Thus; the positive effect obtained from our previous explained ideal [BAT] pattern is stillin progress.Therefore, we keep our overview to the upside on the intraday basis. Now, the path is clear towards the second technical objective areas at 0.9005, followed by 0.9030.

The trading range is among the key support at 0.8690 and key resistance now at 0.9115.

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 0.8925 targeting 0.9030 and stop loss below 0.8840 might be appropriate.

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