Morning Report


The royal pair is trapped within a tight range and we are still waiting for a clear breakout above the initial resistance levels of 0.9030 to make sure that, the CD leg of the harmonic structure might extend its targets towards 0.9290 zones. Indicators still give us positive signs. Henceforth, potential bullishness could be seen over intraday basis.

The trading range is among the key support at 0.8830 and key resistance now at 0.9140.

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 0.8965 targeting 0.9070 and stop loss below 0.8885 might be appropriate.