Morning Report

The pair declined again after it failed to settle above 0.9550, but this decline doesn't changed the suggested trend, where the bullish technical structure shown above in red is still effective and any trading above 0.9400 supports the upside move to return significantly. But, downside correction is possible to support the pair to regain momentum from areas around the support level of 0.9480 and then the upside move could return again. Stochastic is within oversold areas, which supports our expectations over intraday basis.

The trading range for today is among the major support at 0.9365 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**

Previous Report

Weekly Report

RecommendationBased 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 a daily closing below 0.9400 might be appropriate