Morning Report


The royal pair couldn't fill the gap, where the bearish signs appearing on momentum indicators could assist it to pullback towards 0.8760-covergae point-. Additionally, the second internal wave is needed before resuming the short term bullishness. To recap, possible downside movements could be seen today, but we have to be aware that it is just a correction inside the major bullish trend.

The trading range is among the key support at 0.8700 and key resistance now at 0.9000.

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, selling the pair from 0.8840 targeting 0.8760 and stop loss above 0.8905 might be appropriate.