Morning Report


The royal pair continues to trade near the support of the side-way range at 0.8525, while daily closings remain above the level. We still think that a bullish move is likely testing areas around 0.8670, while breaching 0.8525 will open the door toward more bearishness targeting the support of the main descending channel around 0.8370.

The trading range for the day may be among the 0.8415 support and 0.8720 resistance.

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

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Weekly Report

RecommendationBased on the charts and explanations above we recommend buying the pair around 0.8525 targeting 0.8670 , stop loss below 0.8460 may be appropriate.