Morning Report

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Narrow ranges continue to confine trading, however with a slight upside bias supported by positivity on stochastic, therefore, we continue to expect forming the bullish technical pattern we mentioned yesterday and shown above, mentioning that a breach above 0.8665 is required to activate the scenario. The expected bullish move remains valid so long as 0.8525 remain intact.

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

Support0.85250.84600.84150.83850.8300
Resistance0.86000.86350.86650.87200.8765
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