The pair opened over an intraday and weekly basis over a price gap below the intraday channel’s support level, which has turned into resistance at 1.3205. SMA 50 is negatively pressuring the pair; while Stochastic is giving off positive bullish signs. The contrarian between signs appearing now make us recommend observing trading and following up on our daily reports in order to receive reassuring signs of the upcoming direction.

The trading range for today is among the key support at 1.2965 and the key resistance at 1.3585.

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

Support 1.3175 1.3120 1.3080 1.3035 1.2990

--------------------------------------------------------------------------------

Resistance 1.3205 1.3260 1.3305 1.3365 1.3425

--------------------------------------------------------------------------------

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

The pair’s trading is wedged below the downside channel’s resistance level 1.5810 and above SMA 50, where its value is currently at 1.5750 although we still await for a clear breach of pivotal resistance 1.5835 representing the neckline for the bullish trend, appearing in our previous reports. The stochastic is giving off bullish signs that make us expect an upside direction for this week, which requires critical factors to prevail; first, the breach of critical resistance between 1.5810 – 1.5835 and build a base above it, alongside a weekly closing above 1.5725. The awaited key target resides around 1.6040.

The trading range for today is among the key support at 1.5590 and the key resistance at 1.6100.

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

Support 1.5750 1.5685 1.5590 1.5550 1.5510

--------------------------------------------------------------------------------

Resistance 1.5835 1.5895 1.5945 1.5985 1.6040

--------------------------------------------------------------------------------

Recommendation Based on the charts and explanations above our opinion is buying the pair around 1.5835 targeting 1.6040 and stop loss below 1.5725, might be appropriate.

SMA 50 is pushing the pair to the upside to approach the critical resistance at 84.25, which represents the neckline for the expected bullish technical pattern that could effect this week’s trading. The stochastic is giving off overbought signs that could impede breaching the suggested resistance level, but in overall we expect a bullish weekly trend initially targeting areas around 85.95; while resuming this target requires a daily closing above 83.15.

The trading range for today is among the key support at 82.80 and the key resistance at 86.90.

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

Support 83.65 83.15 82.55 81.90 81.50

--------------------------------------------------------------------------------

Resistance 84.25 85.00 85.95 86.25 86.90

--------------------------------------------------------------------------------

Recommendation Based on the charts and explanations above our opinion is buying the pair with the breach of 84.25 targeting 85.95 and stop loss below 83.15, might be appropriate.

The pair touched the minor upside channel’s support level – representing the continuous flag pattern – at 0.9800 rebounding to the upside due to the positive effect of stochastic. We expect to witness some fluctuation between the mentioned support and resistance at 0.9855, which touches SMA 50 before heading towards breaching this pattern’s support level, where in role, paves the way towards resuming the expected bearish trend for this week. The expected targets start chiefly at 0.9680 then 0.9545, but keep in mind the importance of the daily closing remaining below 0.9945 in order to maintain chances of resuming expectations.

The trading range for today is among the key support at 0.9545 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 0.9800 0.9765 0.9680 0.9600 0.9545

--------------------------------------------------------------------------------

Resistance 0.9855 0.9875 0.9945 1.0000 1.0055

--------------------------------------------------------------------------------

Recommendation Based on the charts and explanations above our opinion is selling the pair around 0.9800 targeting 0.9545 and stop loss above 0.9945, might be appropriate.

The pair continues trading within the downside short term channel, while the pair moves within a narrow range fluctuating around SMA 50 and below pivotal resistance 1.0140, highlighted in last week’s reports. Momentum indicators are currently appearing neutral with more fluctuation witnessed; whereas obtaining bearish momentum could support resuming the expected bearish overall weekly basis. Technical targets start mainly at 0.9925 then 0.9815, where resuming them essentially needs the daily closing to remain below 1.0220.

The trading range for today is among the key support at 0.9815 and the key resistance at 1.0220.

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

Support 1.0080 1.0000 0.9925 0.9875 0.9815

--------------------------------------------------------------------------------

Resistance 1.0140 1.0165 1.0220 1.0325 1.0405

--------------------------------------------------------------------------------

Recommendation Based on the charts and explanations above our opinion is selling the pair around 1.0140 targeting 0.9925 and stop loss above 1.0220, might be appropriate.