Morning Report

The pair declined yesterday affected by the breach of the ascending channel shown in Green, and currently, the pair founded base above 61.8% Fibonacci correction as shown above at 0.9880, and then rebounded to confirm a strong support level. We expected an upside movement today, while a breach of 0.9850 negates our expectation.

The trading range for today is among the major support at 0.9825 and the major resistance at 1.0255.

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 recommend buying the pair around 0.9905, and take profit in stages at (0.9970 and 1.0055) and stop loss below 0.9850 might be appropriate today.