Morning Report


The royal pair succeeded in reaching the first awaited resistance areas of 0.8720. The bullish harmonic pattern, alongside the positive crossover appearing on Stochastic argues us to keep our overview to the upside over intraday basis towards the initial resistance level of 0.8820. Note that yesterday's candlestick is bullish.

The trading range is among the key support at 0.8530 and key resistance now at 0.8905.

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.

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RecommendationBased on the charts and explanations above our opinion is, buying the pair from 0.8705 targeting 0.8800 and stop loss below 0.8625 might be appropriate.