Morning Report

The pair failed to settle above 0.9290, and returned to trade in areas around 0.9235. The Butterfly harmonic pattern is still valid, while the pattern should remain effective as long as the pair is stable below the top of point (D) at the resistance level of 0.9335, in the time the pattern will become significantly effective with consolidation below 0.9235. Therefore, we expect a downside movement today supported by the mentioned harmonic pattern.

The trading range for today is among the major support at 0.8980 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.

**New York Candlesticks**

Previous Report

Weekly Report

Support0.92350.91950.91100.90800.9045
Resistance0.92600.92900.93350.93700.9400
RecommendationBased 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