Morning Report

The recently captured harmonic structure appearing on the four-hour chart alongside the suggested Elliott count which we explained several times before might assist the royal pair to incline over intraday basis. Momentum indicators are moving inside oversold areas, supporting this positive anticipation.

The trading range for today is among the key support at 0.8580 and key resistance now at 0.8865.

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

Weekly Report Previous Report

Support0.87200.87000.86800.86300.8580Resistance0.87600.88850.89050.89350.8960RecommendationBased on the charts and explanations above our opinion is, buying the pair with a breakout above 0.8765 targeting 0.8860 and stop loss below 0.8680 might be appropriate.