The pair continues to trade positively, affected by the bullish AB=CD harmonic pattern, and currently the pair is stable above 50% Fibonacci correction of the CD leg of the pattern and may reach 61.8% Fibonacci correction, which is the pattern's second target at 0.9635. But, momentum indicators show some kind ofnegativity, which could lead to a bearish correction, but, consolidation above 0.9545, which represents the patterns first target, could support the upside trend to extend in general.
The trading range for today is among the major support at 0.9490 and the major resistance at 0.9700.
The short-term trend is to the downside as far as 1.0665 remains intact targeting 0.9000.
|Recommendation||Based on the charts and explanations above our opinion is buying the pair around 0.9545 and take profit in stages at (0.9635 and 0.9700) and stop loss with 4-hor closing below 0.9490 might be appropriate.|