Morning report

As we explained earlier,the anticipated corrective wave is limited around 0.8730 -0.8700 zone, where the pair has started to form consecutive bullish candlestick patterns that may activate the bullish scenario, based on the previous explained harmonic possibility, targeting 0.8905. Hence, we still keep our overview to the upside. Carefully note that, a breakout of 0.8790 - Fibo. Expansion level - will confirm our scenario. AC and MACD support our overview

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.

Support0.87200.87000.86600.86350.8600
Resistance0.87900.88200.88650.89050.8930
RecommendationBased on the charts and explanations above our opinion is, buying the pair from 0.8750 targeting 0.8870 and stop loss below 0.8660 might be appropriate.