Morning Report

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The pair continued to trade positively yesterday to end the day above the 76.4% Fibonacci level, thus, reviving the possibilities of resuming bullishness again and settling for the acquired downside correction from 0.8355 to 0.9083. Stochastic positivity support the bullish bias, while the descending correctional channel is pressuring the pair negatively , therefore, we recommend staying aside for today to see if the pair manages to breach the aforementioned correctional level.

The trading range for the day may be among the 0.8460 support and 0.8635 resistance.

The short term trend is to the upside targeting 1.0370 so long as 0.8165 remain intact

Previous Report

Weekly Report

Support0.85250.85000.84600.84150.8385
Resistance0.85950.86600.86850.87200.8805
RecommendationBased on the charts and explanations above we recommend staying aside awaiting more confirmations for the next move.