Morning Report

The pair is currently approaching the first potential reversal zone of the suggested Butterfly harmonic pattern. The pattern wasn't confirmed yet, but the pair reached around 0.9210, which is a critical barrier that separates between testing the (D2) point and settling for the current areas around D1 that could lead the pair to start a downside correction.We remain neutral in our morning report, observing the pair's behavior in the range of 0.9210-0.9225.

The trading range for today is among the major support at 0.8975 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

Support0.91850.91050.90800.90300.8975
Resistance0.92250.92700.93000.93700.9400
RecommendationBased on the charts and explanations above we remain neutral, awaiting more confirmations