Morning Report

The pair is stable below the exponential moving average 20, which adds more negativity to the pair. The negativiy already started as a result of a possibe completion of the bearish Butterfly pattern . We expectthe pair to enter a downside correction, but this correction requires consolidation below 0.9185 to remain valid over intraday basis.

The trading range for today is among the major support at 0.8695 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

RecommendationBased on the chart and explanations above, we recommend selling the pair below 0.9105, and take profit at 0.8935 and stop loss with 4-hour closing above 0.9185 might be appropriate today