Morning Report


Fibonacci correctional level of 38.2% for the entire inclines from 0.8660 zones to the peak of short term basis at 0.9146 meets the uptrend line, which carries the CD leg of the harmonic formation. It might be able to protect the awaited bullishness that we suggest over intraday basis. Stochastic is neutral but A.C indicator shows a positive sign.

The trading range is among the key support at 0.8830 and key resistance now at 0.9115.

The general trend over short term basis is to the upside, targeting 0.9720 as far as areas of 0.8400 remain intact.

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RecommendationBased on the charts and explanations above our opinion is, buying the pair from 0.8960 targeting 0.9070 and stop loss below 0.8885 might be appropriate.