Morning Report

Momentum indicators are almost within overbought areas, but they don't provide any negative sign at the moment. The pair is stable above 61.8% Fibonacci correction around 1.0365, which also supports the continuation of the upside move today. Testing areas around 78.6% and maybe 88.6% Fibonacci corrections at 1.0495 and 1.0570 respectively is possible, while any trading above 1.0365 should support our positive outlook.

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 1.0375, and take profit in stages at (1.0475 and 1.0570) and stop loss with below 1.0275 might be appropriate