Morning Report

The pair is trading inside the descending channel and below 0.8350-05 critical areas, and the formation of Crab harmonic upside pattern that achieved the first target at 0.8245, which is the barrier between positivity and negativity over intraday basis. Therefore, consolidation below 0.8245 might cause the return to the intraday downside move, while 4-hour closing above this level might cause an upside trend targeting 0.8350.

The trading range for today is among the major support at 0.8080 and the major resistance at 0.8350.

The short-term trend is to the downside with steady daily closing below 1.0330 targeting 0.8000.

Previous Report

Weekly Report

RecommendationBased on the charts and explanations above our opinion is selling the pair with 1-hour closing below 0.8195 and take profit in two stages at 0.8080, 0.8010 and stop loss above 0.8250 OR buying the pair with 4-hour closing above 0.8250, targeting 0.8350, and stop loss with 4-hour closing below 0.8195 might be appropriate