Midday Report

The royal pair is trapped in a tight range since morning, so that we're still waiting for the slight correction towards 0.9030 zones, where the pair will be able to gather the momentum it needs to resume the bullish scenario of the extensions for the harmonic pattern, targeting 0.9260 areas over short term basis. Note that Friday's white [marubozo] candlestick pattern confirms the positive potential as seen on the secondary image.

The trading range is among the key support at 0.8905 and key resistance now at 0.9180.

The general trend is to the upside as far as 0.8020 area remains intact with targets at 1.0000 followed by 1.0400 levels.

RecommendationOur morning expectation is still valid