Morning Report

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The royal pair stabilized and closed positively yesterday above the pivotal resistance areas of 0.9070-turned into solid support-. The bullish candlesticks formation argues to keep the potential positive outlook over intraday basis,which is based on completing the CD leg of the suggested harmonic structure and still has technical objective to be reached, seen on our daily chart.

The trading range is among the key support at 0.8905 and key resistance now at 0.9290.

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

Support0.90700.90300.90000.89650.8935
Resistance0.91400.91700.92050.92350.9290
RecommendationBased on the charts and explanations above our opinion is, buying the pair from 0.9105 targeting 0.9205 and stop loss below 0.9030 might be appropriate.