The pair inclined again to settle above the exponential moving averages 20 and 50, where the pair corrected between 38.2% and 50.0% of the upside move, which started at 0.9303 and ended at the top of 0.9594. We expect an upside move today, where consolidation above the moving averages and the bullish continuation structure support our expectations. Stochastic is close to overbought areas, which could trigger heavy fluctuations today.
The trading range for today is among the major support at 0.9300 and the major resistance at 0.9740.
The short-term trend is to the upside with steady weekly closing above 0.8850 targeting 0.9950.
**New York Candlesticks**
|Recommendation||Based on the chart and explanations above, our opinion is buying the pair above 0.9480, and taking profit in stages at (0.9600 and 0.9740) and stop loss with 4-hour closing below 0.9365 might be appropriate|