Morning Report

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The downtrend line is still preventing the royal pair from achieving a violent upside movements, but we still believe that the pair might be able to breach it sooner, activating the positive scenario which is based on the potential Elliott count and the suggested harmonic CD leg for the harmonic formation. Thus; the intraday overview is to the upside.

The trading range for today is among the key support at 0.8790 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.

Weekly Report

Support0.89650.89350.89050.88600.8820
Resistance0.90300.90700.91150.91450.9175
RecommendationBased on the charts and explanations above our opinion is, buying the pair from 0.8985 targeting 0.9070 and stop loss below 0.8920 might be appropriate