The pair stabilized below the initial upside channel’s support level that has  turned into resistance at 1.3275, while trading within the bearish intraday channel continues since its upcoming targets are at support 1.3095. Momentum indicators are showing oversold signs and that may cause fluctuation around 1.3275, but in overall we expect a bearish direction this week due to the weekly closing below the breached upside channel’s support level. SMA support this expected descend targeting 1.3095 then 1.2915, while noting that the daily closing is above 1.3275 will return chances of a bullish direction.

The trading range for today is among the key support at 1.2915 and the key resistance at 1.3450.

The short term trend is to the upside as far as 1.3080 remains intact with targets at 1.5135.

Support 1.3200 1.3165 1.3095 1.3035 1.2980

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Resistance 1.3275 1.3365 1.3450 1.3520 1.3570

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Recommendation Based on the charts and explanations above our opinion is selling the pair around 1.3275 targeting 1.3095 and stop loss above 1.3365, might be appropriate.

The pair continued its bearish pressure clearing 1.5675, which represents resistance, where the pair could  retest the descending channel’s support that has  dominated its movements  since recording the last top at 1.6297. The positivity of momentum indicators could push it to retest the broken level, but in overall we expect a bearish trend this week targeting initially 1.5300. Note that breaching 1.5675 and building a daily closing above it could push the pair towards 1.5900 and postpone resuming bearish targets.

The trading range for today is among the key support at 1.5300 and the key resistance at 1.5830.

The short term trend is to the upside as far as 1.5535 remains intact with targets at 1.7000.

Support 1.5600 1.5545 1.5500 1.5425 1.5390

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Resistance 1.5675 1.5775 1.5830 1.5900 1.5965

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Recommendation Based on the charts and explanations above our opinion is selling the pair around 1.5675 targeting 1.5390 and stop loss above 1.5830, might be appropriate.

The pair succeeded in stabilizing above the awaited pivotal resistance level at 83.80, thereby activating the bullish technical scenario appearing in our previous reports. Hence, we expect a bullish direction this week starting key targets at 85.95 then 87.00. Keep in mind the importance of building a base above 82.80 in order to maintain chances of these expectations prevailing.

The trading range for today is among the key support at 82.80 and the key resistance at 87.00.

The short term trend is to the downside as far as 91.55 remains intact with targets at 77.70.

Support 83.80 83.20 82.80 82.15 81.50

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Resistance 84.40 85.00 85.95 86.25 86.90

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Recommendation Based on the charts and explanations above our opinion is buying the pair around 83.80 targeting 85.95 and stop loss below 82.80, might be appropriate.

The pair stabilized above the psychological barrier 1.0000 pointing to a bullish rebound, while the bullish technical pattern supports this trend that has completed breaching 0.9970 forming the pattern’s neckline. Meanwhile, the ascending channel appears to be organizing the current bullish intraday wave, where these factors make us expect a weekly bullish direction that may be beaten by some fluctuation that will rid of the negative momentum appearing through momentum indicators. The expected targets are at 1.0330, while keeping in mind the importance of building a base above 0.9930 to insure expectations prevail.

The trading range for today is among the key support at 0.9860 and the key resistance at 1.0330.

The short term trend is to the downside as far as 1.0330 remains intact with targets at 0.8000.

Support 1.0000 0.9970 0.9930 0.9860 0.9815

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Resistance 1.0055 1.0100 1.0180 1.0235 1.0275

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Recommendation Based on the charts and explanations above our opinion is buying the pair around 0.9970 targeting 1.0180 and stop loss below 0.9860, might be appropriate.

Despite of the pair’s attempts to descend it was unable to surpass the retest level’s resistance level for the previously breached bearish trend – highlight in the image above -. Stochastic is giving off bullish signs, with the bullish trend’s neckline appears to be touching 38.2% Fibonacci at 1.0240. These factors will make us expect a bullish direction this week requiring two factors to prevail; first, a clear breach of 1.0240 to pave the way towards 1.0405 as the key expected targets, second is a daily closing above 1.0065.

The trading range for today is among the key support at 1.0000 and the key resistance at 1.0505.

The short term trend is to the upside as far as 0.9925 remains intact with targets at 1.1485.

Support 1.0140 1.0100 1.0000 0.9925 0.9875

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Resistance 1.0240 1.0275 1.0325 1.0405 1.0465

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Recommendation Based on the charts and explanations above our opinion is buying the pair with a four hour closing above1.0240 targeting 1.0405 and stop loss below 1.0140, might be appropriate.