Morning Report

Stability above 0.9400 negated our expectations related to the Butterfly pattern, and now we observe the weekly chart to recognize the previously mentioned Deep Crab pattern. Consolidation above 0.9400, which represents 50.0% Fibonacci correction of the Deep Crab pattern, suggests an upside move today towards the pattern's second target, which represents 61.8% Fibonacci correction at 0.9950. Downside corrections are possible, but consolidation above 0.9235 should support our expectations to remain valid, while stability above 0.9370 supports our outlook significantly.

The trading range for today is among the major support at 0.9235 and the major resistance at 0.9660.

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

Support0.94000.93700.93350.92900.9235
Resistance0.94950.95200.95800.96000.9660
RecommendationBased on the chart and explanations above, our opinion is buying the pair around 0.9370, and take profit in stages at (0.9400, 0. 9495 and 0.9580) and stop loss below 0.9290 might be appropriate today