Morning Report

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After reaching our detected technical target of yesterday's report at 0.8690, a positive divergence has been formed as seen on the secondary image, reviving that the royal pair is in a definite need for an upside correction today before resuming the major short term bearish direction. This correction might visit 0.8760 zones.

The trading range for today is among the key support at 0.8490 and key resistance now at 0.8860.

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 Report

Support0.86650.86100.85900.85300.8495
Resistance0.87000.87200.87600.88000.8820
RecommendationBased on the charts and explanations above our opinion is, buying the pair from 0.8665 targeting 0.8760 and stop loss below 0.8590 might be appropriate.