Morning report

The pivotal support areas of 0.8890 played the same role of our targeted areas of 0.8830, that helped the pair to continue its projected upside trip towards the technical target of the cup with handle pattern. Hence with the steady movements along with bullish candlestick structure we see that the pair is to incline over the intraday basis towards the mentioned technical target of our pattern after a slight correction around 0.8965.

Trading range is among the key support at 0.8800 and key resistance now at 0.9130.

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 0.8965 targeting 0.9060 and stop loss below 0.8890 might be appropriate.