Morning Report

The pair is positively biased, where it is still stable above the harmonic support level drawn from the bottom of (A) point and the bottom of (C) point of the suggested Butterfly harmonic pattern. We still expect that consolidation above 0.8900 is positive and could support the extension of the upside move towards the first potential reversal zone of the Butterfly pattern at 0.9210.

The trading range for today is among the major support at 0.8850 and the major resistance at 0.9400.

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

Previous Report

Weekly Report

Support0.90300.89750.89500.89000.8880
Resistance0.90800.91050.91850.92100.9270
RecommendationBased on the chart and explanations above, we recommend buying the pair around 0.9030, and take profit at 0.9210 and stop loss below 0.8900 might be appropriate today.