Morning Report

The previous discussed harmonic pattern, which we mentioned in our yesterday's report, might have been completed as the pair is currently moving around the Fibonacci level of 161.8% for the BC leg of the AB=CD pattern as seen on the provided chart.Stochasticentered oversold areas, supporting ourpositive outlook.

The trading range for today is among the key support at 0.8530 and key resistance now at 0.8830.

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

Support0.86500.86300.86100.85800.8530Resistance0.87000.87200.87600.88300.8860RecommendationBased on the charts and explanations above our opinion is, buying the pair with a breakout above 0.8720 targeting 0.8830 and stop loss below 0.8640 might be appropriate