Morning Report

The upside move continued, affected by consolidation above 50% Fibonacci correction at 1.0275, and now the pair is trading around 61.8% Fibonacci correction at 1.0365. Stochastic is within overbought areas, yet the indicator doesn't provide any reversal signs, while the RSI is stable above the 50-point level. Therefore, 4-hour closing above 1.0365 suggests the extension of the upside move, where the mentioned closing is required to negate any attempt from Stochastic to provide a negative crossover.

The trading range for today is among the major support at 1.0205 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.

**New York Candlesticks**

Previous Report

Weekly Report

Support1.03051.02751.02051.01851.0140
Resistance1.03651.04001.04751.04951.0570
RecommendationBased on the charts and explanations above, our opinion is buying the pair with 4-hour closing above 1.0365, and take profit in stages at (1.0400 and 1.0570) and stop loss with 4-hour closing below 1.0275 might be appropriate