Morning Report

The pair is facing 50% Fibonacci correction at 1.0275 again, after it settled above the exponential moving averages 20 and 50. This move was accompanied with the positivity seen on Stochastic, where despite that overbought signs seen on the indicator, we detect no signs for a negative crossover. The relative strength index is positive and stable above the 50-point level. Therefore, we expect that consolidation above 1.0275 could support the upside move to extend during the session today.

The trading range for today is among the major support at 1.0100 and the major resistance at 1.0495.

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

RecommendationBased on the charts and explanations above, our opinion is buying the pair around 1.0255, and take profit in stages at (1.0305 and 1.0400) and stop loss with 4-hour closing below 1.0140 might be appropriate