Morning Report

width=640

In addition to the falling wedge pattern and the positive divergence which appeared on OsMA indicator, the hourly chart-secondary image- offers the probability of achieving potential upside movements over intraday basis via the bullish candlestick structure and the positive crossover of Stochastic. A break of 0.8255 will assist the royal pair to breach the resistance line of the captured wedge.

The trading range for today is among the key support at 0.8115 and key resistance now at 0.8360.

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

Previous Report

Weekly Report

Support0.82250.82050.81800.81400.8115
Resistance0.82550.82950.83150.83350.8360
RecommendationBased on the charts and explanations above our opinion is, buying the pair with a break of 0.8255 targeting 0.8360 and stop loss below 0.8175 might be appropriate.