Morning Report


In line with our yesterday's explained bullish scenario, the pair inclined yesterday proving that, the internal forth wave is still in progress as seen on the provided daily chart. Technical target of this proposed corrective upside wave resides at 0.8820-0.8830 zones. Stochastic moves positively, adding further confirmation for intraday positive overview.

The trading range is among the key support at 0.8580 and key resistance now at 0.8865.

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 0.8720 targeting 0.8820 and stop loss below 0.8640 might be appropriate.