Morning Report


The pair found a strong resistance at 0.8665 that pushed trading lower as shown above, this resistance is the 50 EMA alongside a neckline for a possible bullish pattern that may be developing as shown on the minor image above. in general, stability above the support of the yellow shaded side-way range in addition to the possible bullish pattern are factors that support a bullish intraday move for today, mentioning that the awaited incline requires two conditions, a breach above 0.8665 and steady trading above 0.8525.

The trading range for the day may be among the 0.8525 support and 0.8765 resistance.

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

Previous Report

RecommendationBased on the charts and explanations above we recommend buying the pair with a breach above 0.8665 targeting 0.8770 and stop loss with four-hour closing below 0.8600 may be appropriate