Yesterday's Doji candlestick pattern may turn into a reversal pattern due to the positivity on Stochastic as seen on the provided daily graph. Actually, the lower line of Keltner channel has been capable of preventing the pair from collapse towards 61.8% Fibonacci of the entire upside wave from 0.8565 to 0.9590. Meanwhile, a potential positive divergence was formed successfully and it may help traders to take the pivotal resistance around 0.9080. A break above 0.9080 will accelerate and confirm the bullish scenario suggested for today's trading.
The trading range for today is among key support at 0.8850 and key resistance at 0.9260.
The general trend over short term basis is to the upsidetargeting 0.9950 as far as areas of 0.8850 remain intact.
|Recommendation||Based on the charts and explanations above our opinion is, buying the pair around 0.9030 targeting 0.9200 and stop loss below 0.8955 might be appropriate.|