Morning Report

The pair inclined and consolidated above 0.9185, which suggests another bullish wave to lead the pair towards 0.9415, but we should be careful, where stability above 0.9105 is necessary for our expectations, as the bearish Butterfly harmonic structure is not ideal due to the length of the suggested CD leg compared with the BD leg. But, harmonic rules support us to expect an upside movement during the session today as long as the pair is stable above 0.9105.

The trading range for today is among the major support at 0.8850 and the major resistance at 0.9415.

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

Previous Report

Weekly Report

Support0.91850.91050.90800.90300.8920
Resistance0.92300.92700.93350.93700.9415
RecommendationBased on the chart and explanations above, we recommend buying the pair around 0.9185, and take profit in stages at (0.9270 and 0.9370) and stop loss with 4-hour closing below 0.9080 might be appropriate today