Morning report

After being relieved, Stochastic has overlapped positively as seen on the provided four-hour chart, supporting the expected bullishness on the bigger daily picture which we discussed yesterday-check the analysis here-. As we see that the uptrend line is protecting the bullish scenario of the four-hour chart suggesting that the extended upside wave of the bullish harmonic formation is to continue on the intraday basis, targeting 0.9340 followed by 0.9470 zones.

Trading range is among the key support at 0.9030 and key resistance now at 0.9470.

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 0.9225 targeting 0.9330 and stop loss below 0.9135 might be appropriate.