Midday Report

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It seems that the right shoulder of the suggested classical pattern is still under construction. The only problem that faces us now is the mixed signs that started to appear on momentum indicator. Thereby, areas of 0.8255 should be breached to confirm our morning outlook. On the other hand, 0.8170-0.8160 should hold to protect the scenario.

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.

Morning Report

Weekly Report

Support0.81700.81400.81150.81000.8085
Resistance0.82350.82550.82950.83150.8335
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.