Morning Report


Trading is stuck among the 23.6% and 38.2% Fibonacci levels, while the 50% halted the previous downside attempts which is a sign that the pair may have completed the correctional move. Now, the resumption of the upside move among the main ascending channel-shown on the minor image- is possible. 0.8660 should remain intact for the upside bias to remain valid

The expected trading range for the day is among the key support at 0.8660 and the key resistance at 0.8885.

The short term trend is to the upside so far as 0.8165 remains intact targeting 1.0370.

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RecommendationBased on the charts and explanations above we recommend buying the pair with a breach of 0.8790 targeting 0.8885 and 0.8900 and stop loss below 0.8690 may be appropriate