Morning Report

The pair is stable above 61.8% Fibonacci correction of the bearish wave, which started from 1.0657 and ended at the bottom of 0.9894, where this correction is at 1.0365. Stability above 1.0275 suggests that the upside move could extend further towards 78.6% Fibonacci correction at 1.0495. Stochastic is within overbought areas which could trigger heavy fluctuations.

The trading range for today is among the major support at 1.0185 and the major resistance at 1.0570.

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, our opinion is buying the pair above 1.0275, and take profit in stages at (1.0365 and 1.0475) and stop loss with below 1.0185 might be appropriate