Finally, the pair has found the level that may cause some kind of correction as we anticipated yesterday as 0.9175-pivotal resistance- has force it to retrace. We believe that 0.9125-0.9130 will provide the pair with a good support to resume the upside rally based on our efficient Elliott count. The subsidiary image shows that daily candlestick has closed above Ribbons lines-EMA 10 to 80- supporting the bullish scenario proposed for intraday traders.
The trading range for today is among key support at 0.0.8985 and key resistance at 0.9355.
The general trend over short term basis is to the upside, targeting 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 0.9125 targeting 0.9310 and stop loss below 0.8985 might be appropriate.|