Morning report

A continuation pattern-cup with handle- may be under construction for the time being as seen on our provided four-hour chart. The pattern offers a bullish scenario over the intraday basis, targeting 0.8905 zones which represent the extended target of the bullish harmonic pattern.

Trading range is among the key support at 0.8615 and key resistance now at 0.9000.

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 0.8775 targeting 0.8890 and stop loss below 0.8685 might be appropriate.