Morning Report

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The royal pair is presently forming a bullish harmonic formation, seen on the provided hourly chart. The potential reversal zones reside between 0.8935 and 0.8905 zones; thus, we keep our outlook to the upside over intraday basis, supported by the oversold sign appearing on momentum indicator.

The trading range for today 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.

Weekly Report Previous day Report

Support0.89350.89050.88600.88200.8790
Resistance0.89650.90000.90300.90700.9115
RecommendationBased on the charts and explanations above our opinion is, buying the pair from 0.8935 targeting 0.9030 and stop loss below 0.8850 might be appropriate.