Morning Report

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0.8525 level continues to form a strong support , pushing the pair to rebound to the upside, stochastic is providing positive signs, thus we continue to expect a bullish move today targeting mainly a breach above 0.8630-0.86.65 area which is a neckline level for a possible bullish technical pattern that we will discuss in details later.

The trading range for the day may be among the 0.8460 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

Weekly Report

Support0.85250.84600.84150.83850.8365
Resistance0.85900.86000.86700.87200.8750
RecommendationBased on the charts and explanations above we recommend buying the pair with four-hour closing above 0.8635 targeting 0.8770 ,stop loss with four-hour closing below 0.8600 may be appropriate