Morning Report

Consolidation below 38.2% Fibonacci correction around 1.0185 could trigger more bearishness today, while the pair is currently approaching the support of the upside move at 1.0070. Stochastic is within oversold areas, which could support the upside move to return. 4-hour closing below this support level could negate our expectations over intraday basis.

The trading range for today is among the major support at 0.9970 and the major resistance at 1.0365.

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

**New York Candlesticks**

Previous Report

Weekly Report

Support1.01401.01001.00701.00250.9970
Resistance1.01851.02051.02751.03051.0365
RecommendationBased on the charts and explanations above, our opinion is buying the pair around 1.0070, and take profit in stages at (1.0205 and 1.0365) and stop loss with 4-hour closing below 0.9970 might be appropriate