Morning Report

The pair is stable between the level of 0.9235 and the top of the suggested (D) point of the bearish Butterfly harmonic pattern. Stochastic is within overbought areas which could lead the pair to settle below the previously mentioned levels, where a breach of this level could trigger a downside movement towards 0.9195-80 in attempts to provide 4-hour closing below it. Consolidation below 0.9180 should bring the negativity back.

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
Resistance0.92900.93350.93700.94000.9430
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