Morning Report

The pair failed to settle below the level of 0.9235, and then breached the resistance at 0.9335, which sent the pair towards the second potential reversal zone of the Butterfly harmonic pattern. But now, the pattern is not ideal, as we can see the suggested CD leg reached more than 261.8% Fibonacci of the BC leg. The pattern is not ideal; therefore we need to observe the pair's behavior around the level of 0.9400 to confirm the validity of harmonic structure. Therefore, we remain neutral today awaiting more confirmations.

The trading range for today is among the major support at 0.9180 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

Support0.93350.92900.92600.92350.9180
Resistance0.94000.94200.94950.95200.9600
RecommendationBased on the charts and explanations above we remain neutral, awaiting more confirmations