The pair is stable above the exponential moving average -EMA 20- as shown above in green and above the middle and upper line of Bollinger band. Trading within sideway range yesterday relieved the negativity seen on Stochastic, while today the indicator is attempting to provide a positive crossover. Therefore, our positive expectations remain valid, while stability above 0.7800-15 should support our intraday positivity.
The trading range for today is among the major support at 0.7665 and the major resistance at 0.8280.
The short-term trend is to the upside with steady weekly closing above 0.6980 targeting 0.8815.
|Recommendation||Based on the chart and explanations above, we recommend buying the pair around 0.7875, targeting 0.8120 and stop loss with 4-hour closing below 0.7815 might be appropriate.|