Morning Report

The pair declined and is currently reaching around 50% Fibonacci correction of the bullish wave, which started at 0.9303 and ended at the top of 0.9594. Stochastic is currently within oversold areas, which made 50% and 61.8% Fibonacci corrections strong support levels. We expect the upside move to return again, affected by the bullish technical structure, but consolidation below 0.9365 weakens the upside move significantly, while a breach of 0.9300 could trigger another bearish wave.

The trading range for today is among the major support at 0.9300 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

RecommendationBased on the chart and explanations above, our opinion is buying the pair around 0.9450, and taking profit in stages at (0.9590 and 0.9660) and stop loss with 4-hour closing below 0.9365 might be appropriate