Morning Report

After touching areas above 0.9300, the pair declined to trade negatively now, yet still stable above 0.9185 accompanied with Stochastic being within oversold areas, which could support forming the CD leg of the suggested Butterfly harmonic pattern. Consolidation below 0.9105 could weaken the intraday upside movement. In general, our positive expectations remain valid for today.

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 above 0.9185, and take profit in stages at (0.9335 and 0.9400) and stop loss with 4-hour closing below 0.9080 might be appropriate today