Morning Report


We remained neutral for long, yet today we can see the pair stabile above the MA 50 at 0.8790 in addition to signs of a positive pattern shown above, confirmed with the breach of 0.8885. Therefore, we now expect an upside move which will be confirmed with the breach of the latter level. Stochastic is turning positive and RSI is returning above 50 and that supports our positive bias for today.

The trading range for today is expected among the key support at 0.8600 and the key resistance at 0.9030.

The short term trend is to the upside as far as 0.8165 remains intact with targets at 1.0370.

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RecommendationBased on the charts and explanations above our opinion is buying the pair above 0.8790 targeting 0.9030 and stop loss below 0.8700 might be appropriate