Morning Report


The under preparation CD leg of the duplicated bullish harmonic formation is to be completed at 0.8610 zones, while a positive divergence has been formed already on the hourly chart. Thereby, a bullish wave is anticipated from there over intraday basis.

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.

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RecommendationBased on the charts and explanations above our opinion is, buying the pair from 0.8610 targeting 0.8690 and stop loss below 0.8550 might be appropriate.