Morning report

The royal pair is passing over the Fibonacci expansion level freely, forming a bullish candlestick formation keepingthe bullish harmonic scenarioin favor, pressuring the price totarget 0.8905 areas. A new sign appeared, supporting the bullish scenario which is, penetrating the daily down trend line as seen on the secondary image. Therefore we still keep our overview to the upside.

Trading range is among the key support at 0.8585 and key resistance now at 0.8960.

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.

RecommendationBased on the charts and explanations above our opinion is, buying the pair from 0.8795 targeting 0.8900 and stop loss below 0.8710 might be appropriate.