Morning Report

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The secondary image for Stochastic of the four-hour interval succeeded in forming a bullish harmonic pattern, alongside positive crossover inside oversold zones, suggesting that more bullishness is to be seen over intraday basis, supported by the suggested Elliott count over daily basis. A break of 0.8380 will accelerate this upside corrective scenario.

The trading range for today is among the key support at 0.8210 and key resistance now at 0.8500.

The general trend over short term basis is to the downside, targeting 0.7780 as far as areas of 0.8965 remain intact.

Weekly Report Previous Report

Support0.83300.83050.82950.82450.8210Resistance0.83800.84000.84200.84600.8500RecommendationBased on the charts and explanations above our opinion is, buying the pair around 0.8355 targeting 0.8480 and stop loss below 0.8260 might be appropriate.