Morning Report

The pair is currently trading around the retest for the breached neckline for the bullish pattern at 0.9710, as we can see Stochastic unloaded the negative momentum and trading within oversold areas. Therefore, we expect an intraday upside move today affected by the mentioned pattern, targeting areas at 0.9845, while the breach of 0.9710 will be the first signal that the pair settled for the seen upside correction towards 61.8% Fibonacci.

The trading range for today is among the major support at 0.9625 and the major resistance at 0.9915.

The short term trend is to the downside as far as 1.0665 remains intact targeting 0.9000.

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Weekly Report

RecommendationBased on the charts and explanations above our opinion is buying the pair with around 0.9710 targeting 0.9845 and stop loss below 0.9610 might be appropriate