Morning Report

The pair inclined again, but it is still stable below the potential reversal zone of the bearish Butterfly harmonic pattern at 0.9235. The return of the downside movement is possible, especially when Stochastic is negative and supports our expectations.

The trading range for today is among the major support at 0.8940 and the major resistance at 0.9370.

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, our opinion is selling the pair below 0.9200, and take profit in stages at 0.9105 and 0.9050 and stop loss above 0.9290 might be appropriate.