Stability below EMA 20 was accompanied with Stochastic relieving some of the positivity gained yesterday. Furthermore, the bearish Butterfly harmonic pattern is still affecting the pair's movement. Therefore, we expect a downside movement today, which could be confirm with a breach of 0.8920, where this breach could support the pair to head towards the harmonic structure's first target at 0.8695, which represents 38.2% Fibonacci correction of the CD leg of the pattern.
The trading range for today is among the major support at 0.8695 and the major resistance at 0.9235.
The short-term trend is to the upside with steady weekly closing above 0.8020 targeting 0.9400.
|Recommendation||Based on the chart and explanations above, we recommend selling the pair around 0.9030, and take profit at 0.8695 and stop loss with 4-hour closing above 0.9185 might be appropriate today|