Morning Report

width=640

The royal pair reversed exactly from 127% Fibonacci level of XA leg-valued at 0.8892-, seen on the provided hourly chart; thus, the bullish harmonic formation has affected the movements positively, while the secondary image shows that it succeeded in forming a bullish candlestick formation on the four-hour interval. Hence, we keep our outlook to the upside over intraday basis.

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 ReportPrevious day Report

Support0.89050.88600.88200.87900.8760
Resistance0.89650.90000.90300.90700.9115
RecommendationBased on the charts and explanations above our opinion is, buying the pair from 0.8905 targeting 0.9000 and stop loss below 0.8840 might be appropriate.