Adding Fibonacci retracement tool to the previous caught minor bullish harmonic AB=CD pattern proves that the pair is still stabilizing above 38.2% Fibonacci retracement of its CD leg as seen on the provided four-hour chart. This technical factor should assist the pair to incline once more, but Stochastic is still negative despite approaching oversold areas; whilst MACD is currently entering the negative zone. Additionally, SMA 20 covers the present price actions. Hence, we are obliged to stay aside due to the contradiction between indicators' and harmonic rules; noting that a price explosion may occur if it penetrates 76.95.
The trading range for today is among key support at 75.25 and key resistance now at 78.45.
The general trend over short term basis is to the upside, targeting 87.45 as far as areas of 75.20 remain intact.
|Recommendation||Based on the charts and explanations above our opinion is, staying aside until an actionable technical setup presents itself to pinpoint the next big move.|