Morning Report

The pair stabilized around 0.9445 and this level was supposed to push the pair to the upside yet we did not see the upside reversal yet. Also, steady daily closing below the main resistance for the downside wave for three consecutive days makes the situation more critical. We still see chances for the upside correction yet the breach of 0.9400 and stability below it will negate those expectations and support the resumption of the downside wave.

The trading range for today is among the major support at 0.9305 and the major resistance at 0.9680.

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 we recommend buying the pair around 0.9445 targeting 0.9680 and stop loss below 0.9400 might be appropriate