Morning Report

Fibonacci levels played a big role during the previous sessions as we can see how the pair has moved violently upwards from61.8% Fibonacci level reaching our previous detected technical objective at 0.9200-38.2% Fibonacci- of the wave from 0.8565 to the significant high of 0.9590 as seen on the provided daily graph. Now, Stochastic has overlapped negatively and it needs a relief before resuming the bullishness supported by stability above the initial support of zones between 0.9105 and 0.9080. Carefully note that, beating 0.9200 levels will actuate buyers to test 0.9310 areas.

The trading range for today is among key support at 0.8985 and key resistance at 0.9360.

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

Previous Report

Weekly Report

RecommendationBased on the charts and explanations above our opinion is, buying the pair around 0.9105 targeting 0.9300 and stop loss below 0.8985 might be appropriate.