Morning Report

The pair continues to trade negatively affected by the bearish harmonic structure. Momentum indicators support the downside movement, which could lead the pair to test 0.8835 and then the structure's first target at 0.8620, which represents 38.2% Fibonacci correctional levelof the CD leg. Consolidation below 0.9185 and below 0.9105 is much better for our expectations to prevail.

The trading range for today is among the major support at 0.8620 and the major resistance at 0.9230.

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

Previous Report

Weekly Report

Support0.89200.88500.88350.87800.8750
Resistance0.90000.90800.91050.91850.9230
RecommendationBased on the chart and explanations above, we recommend selling the pair below 0.9000, and take profit in stages at (0.8835 and 0.8620) and stop loss above 0.9185 might be appropriate today.