Morning Report

Our yesterday's neutral outlook proved its efficiency, as we see how the pair inclined sharply from the support areas between 0.8180-0.8200, forming an obvious bullish candlestick pattern as seen on the provided daily chart. Not only that but Stochastic crossed over positively, signaling that the ceiling of the previous explained trading range could be visited and thus; possible upside movements could be witnessed over intraday basis.

The trading range for today is among the key support at 0.8100 and key resistance now at 0.8380.

The general trend over short term basis is to the downside, targeting 0.7780 as far as areas of0.8965remain intact.

Weekly Report Previous Report

Support0.82300.82100.81800.81400.8100Resistance0.82600.82950.83150.83550.8380RecommendationBased on the charts and explanations above our opinion is, buying the pair with a breakout above 0.8260 targeting 0.8370 and stop loss below 0.8175 might be appropriate.