The pair maintains fluctuations among the symmetrical triangle pattern, while hovering around the 50-days SMA, meanwhile stochastic has dipped within oversold area. thus we still see theupside potential we have been suggesting in our previous reports probable.
The trading range for today is among key support at 0.8965 and key resistance at 0.9260.
The general trend over short term basis is to theupsidetargeting0.9950as far as areas of0.8850remain intact.
|Recommendation||Based on the charts and explanations above our opinion is, buying the pair above 0.9075 targeting 0.9150 and 0.9300 stop loss below 0.9000|
Technical analysis for precious metals with major support and resistance levels and recommendations for 18-08-2009