Morning Report

The pair is still stable above 0.9185, supporting our positive expectations, where as shown on the minor chart, we didn't witness any 4-hour closing below the mentioned level, which could support the pair to attempt extending the length of the CD leg of the Butterfly harmonic pattern. Stability above the exponential moving average 50 at 0.9060 is necessary for our expectations to remain valid.

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

Support0.91850.91050.90800.90500.9030
Resistance0.92300.92700.93350.93700.9415
RecommendationBased on the chart and explanations above, we recommend buying the pair above 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