Morning Report


The royal pair respected the suggested scenario for yesterday literarily, inclining from the potential reversal zones of the bullish harmonic butterfly as seen on the provided four hour chart. The secondary image shows the daily candlestick formation that indicates additional ascending actions over intraday basis, but not before breaching the harmonic downtrend line and SMA 50 at 0.8215.

The trading range for today is among the key support at 0.8085 and key resistance now at 0.8315.

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

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RecommendationBased on the charts and explanations above our opinion is, buying the pair with a break of 0.8215 targeting 0.8310 and stop loss below 0.8140 might be appropriate.