Morning Report


The pair is still trading within the ascending channel, where its major support is at 0.8995 preceded by 20 MA at 0.9000. Thestochastic provides the possibility for a downside correction, yet MACD is pointing to the upside and for that we expect the pair to head to the upside today over intraday basis.

The trading range is among the key support at 0.8820 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 0.9000 targeting 0.9115 and stop loss below 0.8930 might be appropriate