Morning Report

The pair settled for the third respective day around the 61.8% Fibonacci correction, confirming the ongoing bearish pressure n the pair. Trading is still within the minor ascending channel and accordingly we preserve our intraday bullish expectations for today, though we should note that the negative pressure might push the pair to the downside once again to settle for the correction seen for now.

The trading range for today is among the major support at 0.9615 and the major resistance at 0.9970.

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

Previous Report

Weekly Report

RecommendationBased on the charts and explanations above our opinion is buying the pair around 0.9760 targeting 0.9970 and stop loss below 0.9680 might be appropriate