Morning Report

The pair is trading perfectly according to yesterday's suggested scenario, achieving the main target 1.0890 - resistance level for the main ascending channel. The pair is still under the influence of the bullish pattern from yesterday, where technical complete targets have not been achieved yet. We expect some minor bearish correction to retest 1.0825 followed by resuming the expected bullish intraday direction, where its main targets are around 1.0950 after it was able to breach mentioned resistance above. Chances of achieving these expectations depend on trading remaining above 1.0730.

The trading range for today is among the key support at 1.0730 and the key resistance at 1.1015.

The general trend is to the downside as far as 1.1225 remains intact with targets at 0.9600.

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RecommendationBased on the charts and explanations above our opinion is buying the pair from 1.0825 targeting 1.0950 and stop loss below 1.0730, might be appropriate.