Midday Report

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The royal pair is trapped within a very tight range since morning, confirming the solidity of the resistance around 127.2% Fibonacci projection of AB leg for the proposed harmonic 5-0 pattern. RSI started to give off a clearer bearish sign and therefore, we hold onto our morning predications for the rest of the day. The scientific technical target resides around 50% of CD leg at 0.8465, while 161.8% of AB leg at 0.8645 should hold to keep the harmonic scenario valid as well.

The trading range for today is among the key support at 0.8445 and key resistance now at 0.8665.

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

Support0.85300.85000.84600.84450.8420
Resistance0.85750.86050.86300.86500.8665
RecommendationOur morning expectations remain valid.