Morning Report

The pair is trading narrowly, which drives us to move into the 4-hour interval to define the pair's intraday trend. We find the pair is forming a Butterfly harmonic pattern, which should be completed in areas around 1.0010-00, where this level represents 127.2% Fibonacci of the suggested XA leg and less than 200% of the BC leg, therefore the pattern is ideal if completed. Any trading below 1.0255 suggests a downside movement today, but we prefer consolidation below 1.0205 to confirm our bearish outlook. Stochastic provides now a negative crossover, which supports our negative expectations.

The trading range for today is among the major support at 0.9970 and the major resistance at 1.0275.

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

**New York Candlesticks**

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Weekly Report

RecommendationBased on the charts and explanations above, our opinion is selling the pair around 1.0185, and take profit in stages at (1.0070 and 1.0010) and stop loss with 4-hour closing above 1.0275 might be appropriate