Morning Report

The pair rebounded to the upside and breached the downside movement's main resistance, where this incline was supported by the recently formed bullish Butterfly harmonic pattern, which was completed around 0.9980. We expect the upside move to extend, yet fluctuations are possible before the suggested rebound, while the pair could retest areas around 1.0110 and maybe 1.0055.

The trading range for today is among the major support at 0.9825 and the major resistance at 1.0305.

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

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Weekly Report

Support1.01101.00851.00551.00000.9970
Resistance1.01851.02051.02551.02751.0375
RecommendationBased on the charts and explanations above, we recommend buying the pair around 1.0110, and take profit in stages at (1.0205 and 1.0305) and stop loss below 1.0000 might be appropriate today.