Morning Report

Trading above (X) point top of the suggested harmonic structure should support the possibility of completing the suggest Bat pattern, where the structure's potential reversal zone is at 0.8920. In result, stability above 0.8480 should support our positive expectations, while a breach of 0.8300 should weaken our expectations over intraday basis.

The trading range for today is among the major support at 0.8170 and the major resistance at 0.8920.

The short-term trend is to the upside with steady weekly closing above 0.6980 targeting 0.8815.

Previous Report

Weekly Report

Support0.85400.85000.84800.84550.8300
Resistance0.86000.86800.87200.88200.8855
RecommendationBased on the chart and explanations above, we recommend buying the pair above 0.8480, and take profit in stages at (0.8855 and 0.8920) and stop loss with 4-hour closing below 0.8170 might be appropriate today.