Midday Report

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The royal pair has been trapped between 0.8905 and 0.8935 zones. Thus, we believe that the solid support around 127% Fibonacci level of XA leg-valued at 0.8892 has been capable of activating the bullish harmonic structure, seen on the hourly chart and we keep our overview to the upside for the rest of the day.

Trading range for today is among key support at 143.20 and key resistance at 153.40.

The general trend is to the downside as far as 167.40 remains intact with target at116.00.

Morning Report Weekly Report

Support149.00148.60147.90147.30146.20
Resistance150.00150.60151.25151.75152.30
RecommendationBased on the charts and explanations above our opinion is, buying the pair from 148.60 targeting 151.20 and stop loss below 146.80 might be appropriate.