Once again, the level of 1.0070 was able to stop the pair's negative momentum. But, Stochastic entered overbought areas quickly as shown on the 4-hour interval, while RSI is unable to settle above the 50-point level. Therefore, the harmonic structure shown above is still valid and is expected to complete in areas around 1.0010. Therefore, we still expect a downside movement today. Consolidation below 1.0185 is required over intraday basis.
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**
|Recommendation||Based 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|