Morning Report

Stability below the suggested (B) point of the Butterfly harmonic pattern suggests completing the formation of the CD leg, which also suggests a downside movement today. Stochastic is currently within overbought areas and attempts to rebound, but we will remain negative as long as 1.0205 remains intact over intraday basis and as long as the level of 1.0275 remains intact in general.

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**

Previous Report

Weekly Report

Support1.01001.00701.00251.00000.9970
Resistance1.01401.01851.02051.02551.0275
RecommendationBased on the charts and explanations above, our opinion is selling the pair around 1.0140, and take profit in stages at (1.0070 and 1.0010) and stop loss with 4-hour closing above 1.0205 might be appropriate