Morning Report

The pivotal resistance areas around 0.8335 are still preventing the pair from achieving the previous explained bullish scenario of the bullish harmonic crab pattern. AROON is positive and RSI is still inside oversold areas and they may assist the royal pair to breach this trading range area. To summarize, we hold onto our positive scenario as far as areas of 0.8255 remains intact. Note that, there is a chance for visiting 0.8270 zones before moving upwards.

The trading range for today is among the key support at 0.8180 and key resistance now at 0.8460.

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

RecommendationBased on the charts and explanations above our opinion is, buying the pair around 0.8305 targeting 0.8420 and stop loss below 0.8250 might be appropriate.