Morning Report

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The royal pair inclined sharply, placing a temporary high at 0.8996 zones; respecting the positive effect obtained from our previous explained ideal [BAT] pattern. Presently, we think that slight descending actions are needed to relieve the momentum indicators, followed by resuming the major upside direction over intraday basis; targeting 0.9030 zones.

The trading range is among the key support at 0.8760 and key resistance now at 0.9145.

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.

Support0.89300.89050.88650.88200.8790
Resistance0.90000.90300.90700.91150.9145
RecommendationBased on the charts and explanations above our opinion is, buying the pair from 0.8950 targeting 0.9030 and stop loss below 0.8880 might be appropriate.