Morning Report

The downside movement continued, affected by the bearish AB=CD harmonic pattern, where the pair reached 76.8% Fibonacci correction of the CD leg, which also represents the pattern's first extended target. Now, Stochastic attempts to turn positive, while the mentioned correction acts as a strong support at 1.0255, but according to harmonic rules, consolidation below 61.8% suggests achieving more targets. Therefore, we remain neutral for today due to the technical conflict seen.

The trading range for today is among the major support at 1.0085 and the major resistance at 1.0500.

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

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Weekly Report

Support1.02551.02301.01851.01251.0085
Resistance1.03051.03401.03751.04001.0475
RecommendationBased on the charts and explanations above, we remain neutral awaiting more confirmations