Morning Report

The harmonic formation suggested that the pair that we have currently relied because its targets are the least within the suggested harmonic pattern, and due to that initially a reverse point is expected PRZ at 1.0195; representing the 88.6% correction from the XA leg as well as 127% from the BC leg. The stochastic supports expectations for today, whereas the harmonic pattern remains intact as long as trading remains below 1.0575; while causing trading for the pair to weaken above 1.0460. From here, we can expect a bearish direction that could affect the pair's trading today.

The trading range for today is among the key support at 1.0110 and the key resistance at 1.0520.

The short term trend is to the upside as far as 0.9925 remains intact with targets at 1.1485.

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Weekly Report

Support1.03401.02801.01951.01351.0110Resistance1.03801.04601.04951.05201.0575RecommendationBased on the charts and explanations above our opinion is selling the pair around 1.0380 targeting 1.0195 and stop loss above 1.0495, might be appropriate.