The pair was near to achieving the suggested targets in our reports last week around 1.2915, after that the pair strongly rebounded to return to trade once again within the key ascending channel to stabilize above SMA 50, alongside building a base above 50% Fibonacci correction. The chart above highlights what had occurred. Momentum indicators are currently giving off negative signs that will maintain mixed fluctuation for some time, in addition to retesting critical levels for the short term intraday direction, starting from 1.3345 then 1.3290 – retesting the downside channel that was picked out last Friday -. In overall, we expect a bullish intraday direction that requires the daily closing above 1.3265 to prevail and where its targets start at 1.3685.

The trading range for today is among the key support at 1.3185 and the key resistance at 1.3685.

The short term trend is to the upside as far as 1.2795 remains intact with targets at 1.5135.

Support 1.3345 1.3290 1.3225 1.3150 1.3090

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Resistance 1.3390 1.3450 1.3520 1.3570 1.3620

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Recommendation Based on the charts and explanations above our opinion is buying the pair around 1.3365 targeting 1.3685 and stop loss below 1.3225, might be appropriate.

The pair stopped at 38.2% Fibonacci correction to rebound to the upside, alongside stabilizing above SMA 50; however, in return trading will remain below the upside channel’s support level that has been previously breached. Momentum indicators are showing overbought signs that are negatively pressuring the pair in the meantime. We recommend keeping an eye on trading and following up on our upcoming daily reports to insure the future direction more clearly, where it is vital that we observe the daily closing for support levels 1.5685 and resistance 1.5810.

The trading range for today is among the key support at 1.5510 and the key resistance at 1.6075.

The short term trend is to the upside as far as 1.5315 remains intact with targets at 1.7000.

Support 1.5690 1.5645 1.5595 1.5550 1.5510

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Resistance 1.5810 1.5900 1.5965 1.5995 1.6075

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Recommendation Based on the charts and explanation above our opinion is observing the pair’s movement to insure its upcoming direction.

The pair sharply descended after resistance level 84.25 showed strong resilience in front of the pair’s attempts to incline. Trading remains above the previously breached descending short term resistance channel that has currently turned into support at 82.00, alongside stochastic nearing oversold areas and thereby making us expect a bullish trend throughout the week. In overall, main targets start at 85.00 – 85.95 as chances of resuming them will remain intact as long as the daily closing is above 82.00.

The trading range for today is among the key support at 81.05 and the key resistance at 85.95.

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

Support 82.80 82.00 81.50 81.05 80.80

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Resistance 83.35 84.25 85.00 85.95 86.25

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Recommendation Based on the charts and explanations above our opinion is buying the pair around 82.00 targeting 84.25 and stop loss below 81.05, might be appropriate.

The pair was unable to build a base above the psychological barrier 1.0000 forming correction 23.6% Fibonacci appearing through the image above, trading has reversed to the downside and continues within the upside correctional channel, where its current support level is at 0.9645. Positive momentum appearing through momentum indicators is adding strength to the mentioned support level, but the resistance level’s strong stance is between 0.9970 – 1.0000 since the daily closing is below it; thus, making us expect an overall bearish trend during this week, targeting 0.9600 then 0.9500, as long as the daily closing is below 0.9925.

The trading range for today is among the key support at 0.9500 and the key resistance at 1.0000.

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

Support 0.9750 0.9700 0.9645 0.9600 0.9545

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Resistance 0.9800 0.9855 0.9925 0.9970 1.0000

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Recommendation Based on the charts and explanations above our opinion is selling the pair around 0.9855 targeting 0.9645 and stop loss above 0.9970, might be appropriate.

The pair continues trading within the key downside channel appearing in the chart above since its resistance is around 1.0255, where we notice that the last breach of the pivotal support level is at 1.0080 and is vital to pave the way towards continuing trading within this channel, and then head towards achieving more bearish movement for this week. Stochastic is showing a clear negative crossover supporting continuing the suggested bearish trend, which chiefly targets attacking critical support for the short term direction at 0.9925 then 0.9815. Note the importance of building a base below resistance levels between 1.0080 – 1.0125 to insure that the suggested bearish trend is not postponed.

The trading range for today is among the key support at 0.9815 and the key resistance at 1.0255.

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

Support 1.0000 0.9925 0.9875 0.9815 0.9750

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Resistance 1.0080 1.0175 1.0205 1.0255 1.0325

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Recommendation Based on the charts and explanations above our opinion is selling the pair around 1.0080 targeting 0.9925 and stop loss above 1.0175, might be appropriate