Morning Report

The pair is currently forming the awaited downside correction, where a retest of levels between 38.2% Fibonacci correction and 0.9820 is possible. Consolidation above 0.9770 supports the upside move to extend and attempt to breach the several resistances above, such as 0.9910. A breach of 0.9710 should negate our intraday positive expectations.

The trading range for today is among the major support at 0.9710 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.

Weekly Report

Previous Report

Support0.98650.98200.97700.97100.9635
Resistance0.99100.99550.99901.00101.0125
RecommendationBased on the charts and explanations above, our opinion is buying the pair around 0.9820, and take profit in stages at (0.9970 and 1.0080) and stop loss with 4-hour closing below 0.9710 might be appropriate today