Morning Report

The pair returned to consolidate below 61.8% Fibonacci correction at 1.0290-1.0300. In addition, Stochastic is turning negative, which could trigger a test of lower levels before resuming the upside move. Over hourly basis, we can see a bearish classic pattern that will be completed as a breach of 1.0230 is seen. Therefore, we remain neutral today awaiting further confirmations.

The trading range for today is among the major support at 1.0125 and the major resistance at 1.0400

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 remain neutral awaiting more confirmations