Morning Report

The pair declined again, and failed in the first attempt to settle above 1.0365. But, the pair is still stable above the Exponential Moving Averages 20 and 50, and also above 50% Fibonacci correction at 1.0275. In addition, the pair is still within the ascending channel which drives us to hold onto our positive expectations in general. But, Stochastic provided a negative crossover due to the failure of stability above 1.0365, which could trigger heavy fluctuations and maybe downside corrections.

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

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