Moring Report

The pair declined responding to the MA 50 and settled for the first target of the bullish harmonic Crab Patter at 0.8250. Currently, trading is stable below 0.8195 and that will keep the intraday negative pressure on the pair today. Stability above 0.8250 will negate the bearish expectations and carry the pair towards the second harmonic target at 0.8350.

The trading range for today is among the major support at 0.8010 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.

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Weekly Report

RecommendationBased on the charts and explanations above our opinion is selling the pair around 0.8195 targeting 0.8080 and 0.8010 and stop loss with four-hour closing above 0.8250 OR buying the pair with four-hour closing above 0.8250 targeting 0.8350 and stop loss with four-hour closing below 0.8195 might be appropriate