Morning Report

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The pivotal levels around 0.9030-0.9040 still offer a good support for the royal pair. From those levels the pair inclined on the Asian session and its presently attacking the important resistance level of 0.9070 and a break ofwhich will be able to confirm the proposed bullishness fro today. Thepositive scenario is based on the mixture studies between classical and harmonic formation as seen on the provided daily chart.

The trading range is among the key support at 0.8890 and key resistance now at 0.9205.

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 Report

Support0.90300.90000.89650.89350.8905
Resistance0.90800.91150.91450.91700.9205
RecommendationBased on the charts and explanations above our opinion is, buying the pair from 0.9060 targeting 0.9170 and stop loss below 0.8980 might be appropriate.