Morning Report


The first attempt to breach the upper line or rather the resistance line of the falling wedge pattern has been failed but the same positive divergence, still appears on OsMA as seen on the provided daily chart. Thereby, the classical pattern is still valid and we keep the positive anticipations unchanged over intraday basis. A breakout above 0.8180 will be able to confirm and accelerate the proposed scenario.

The trading range for today is among the key support at 0.8030 and key resistance now at 0.8295.

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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Weekly Report

RecommendationBased on the charts and explanations above our opinion is, buying the pair with a break of 0.8180 targeting 0.8290 and stop loss below 0.8100 might be appropriate.