Morning Report

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The royal pair is still gathering the momentum it needs around the resistance line of the falling wedge pattern. The same positive signs are still appearing on OsMA and Stochastic and that is why we hold onto our positive technical predictions that we discussed in details in our weekly report. One thing that should considerably noted is the breakout above 0.8215; motivating achieving our scenario.

The trading range for today is among the key support at 0.8060 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.

Previous Report

Weekly Report

Support0.81800.81400.81050.80850.8060
Resistance0.82150.82350.82550.82950.8320
RecommendationBased on the charts and explanations above our opinion is, buying the pair with a break of 0.8215 targeting 0.8320 and stop loss below 0.8130 might be appropriate.