Morning report

About 15 pips separated the pairfrom our detected technical target of the bullish scenario at 0.9205-check the analysis here-. Now, the daily formation and positive closing of the candlesticks offer further bullishness towards the extended technical targets of the bullish harmonic structure and the cup with handle pattern as seen on the four-hour chart around 0.9260 followed by 0.9370. Hence we keep our overview to the upside on the intraday basis.

Trading range is among the key support at 0.9000 and key resistance now at 0.9375.

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 0.9160 targeting 0.9255 and stop loss below 0.9080 might be appropriate.