Morning Report

The pair reached again the support for the main ascending wave which it returned to trade within, and also the pair reached 76.4% correction from the top which are all positive signals especially with RSI above 50. Nevertheless, Stochastic is attempting to crossover negatively and accordingly the upside move is still favored for today but the breach of the main support for the upside wave that extends towards 0.9800 will delay those expectations.

The trading range for today is among the major support at 0.9670 and the major resistance at 1.0125.

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

Previous Report

Weekly Report

Support0.98450.98250.97700.97100.9670
Resistance0.99000.99701.00001.00351.0125
RecommendationBased on the charts and explanations above we recommend buying the pair around 0.9855 targeting 1.0000 and stop loss with four-hour closing below 0.9800 might be appropriate