Morning Report

Despite forming a Doji candlestick pattern yesterday- candle of indecision- but the closing was achieved above the key support level of 0.9105 as seen on the provided daily chart. Stochastic on its way to overlap positively; whilst RVI 14 remains positive; thus, the pair may move higher over intraday basis. But, penetrating 0.9175 zones is required in order to assist bulls to support their positions towards 0.9310 zones followed by 0.9400 areas. Conversely, areas of 0.9030 should hold to protect the scenario.

The trading range for today is among key support at 0.8965 and key resistance at 0.9310.

The general trend over short term basis is to the upside, targeting 0.9950 as far as areas of 0.8850 areas remain intact.

Previous Report

Weekly Report

RecommendationBased on the charts and explanations above our opinion is, buying the pair above 0.9175 targeting 0.9400 and stop loss below 0.9030 might be appropriate.