The pair didn't provide any 4-hour closing below 0.9180 yesterday, and now the exponential moving average moved to areas around 23.6% Fibonacci correction as shown above at 0.9195. Consolidation above 0.9235 should weaken the harmonic structure but will not negate it, but at the same time trading below 0.9195 should bring the negativity back, affected by the bearish Butterfly pattern.
The trading range for today is among the major support at 0.8980 and the major resistance at 0.9430.
The short-term trend is to the upside with steady weekly closing above 0.8020 targeting 0.9400.
**New York Candlesticks**
|Recommendation||Based on the chart and explanations above, our opinion is selling the pair with 4-hour closing below 0.9180, and take profit in stages at (0.9110, 0.9045 and 0.8980) and stop loss above 0.9290 might be appropriate|