Morning Report

As shown on the daily interval, the pair attempts to form a triangle technical formation, which could trigger an upside move in the coming period, where the pair is currently trading around the main support of the upside move, and also around the support level of the suggested triangle formation and finally around 38.2% Fibonacci correction, as all these level met at 1.0185. We expect an upside move today as long as the pair is stable above 1.0185, but a breach of 1.0070 could trigger a strong bearish wave.

The trading range for today is among the major support at 1.0070 and the major resistance at 1.0490.

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

Support1.01851.01401.01001.00701.0055
Resistance1.02551.02751.03051.03751.0400
RecommendationBased on the charts and explanations above, our opinion is buying the pair around 1.0185, and take profit in stages at (1.0275 and 1.0365) and stop loss with 4-hour closing below 1.0070 might be appropriate