Morning Report

The pair reversed to the downside after finding solid support around 0.9180, where this downside correctional move might extend towards 0.9000-0.8995. In general, the breach earlier above the critical resistance -neckline areas- at 0.8930 and the 38.2% Fibonacci correction make us favor further intraday bullishness for today targeting next 0.9395. Breaching the support areas between 0.8930-0.8885 will be the first signal for the reversal to the downside.

The trading range for today is among the major support at 0.8885 and the major resistance at 0.9395.

The short-term trend is to the upside with steady weekly closing above 0.8020 targeting 0.9400.

Previous Report

Weekly Report

RecommendationBased on the charts and explanations above we recommend buying the pair with hourly closing above 0.9070 targeting 0.9245 and stop loss with hourly closing below 0.8995 might be appropriate