Some bullish correction might be necessary for today to pull our momentum indicators from the major oversold areas. On the other hand, we see that thisupside movecould merely be a retestfor theneckline, where the neckline resides around 1.0035. Thus, we expect a new bearish wave after some correction.
The trading range for today is among the key support at 0.9740 and the key resistance at 1.0220.
The general trend is to the downside as far as 1.1225 remains intact with targets at 0.9600.
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|Recommendation||Based on the charts and explanations above our opinion is selling the pair from 1.0035 targeting 1.9845 and stop loss above 1.0120, might be appropriate|