The pair continued its negative pressure from last Friday since it was able to stabilize below SMA 50, alongside breaching critical support at 1.3180 specifically since this level represents the neckline for the bearish technical pattern; paving the way towards an expected bearish weekly trend. The positivity appearing on momentum indicators could cause some fluctuation before heading towards resuming targets that start at 1.2850, keeping in mind the pair returning above 1.3265 will pave the way to revisit the ascend once again.

The trading range for today is among the key support at 1.2795 and the key resistance at 1.3370

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

Support 1.3120 1.3080 1.3035 1.2990 1.2915

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Resistance 1.3180 1.3265 1.3300 1.3370 1.3420

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Recommendation Based on the charts and explanations above our opinion is selling the pair around 1.3180 targeting 1.2850 and stop loss above 1.3300, might be appropriate.

The pivotal resistance of 1.5650 was able to prevent the pair from moving to the upside to cause some strong bearish movement that will breach the previously mentioned pivotal support level around 1.5525, which has recently turned into resistance ascending towards 1.5535. This breach and base built since last week’s closing below it makes us expect a bearish trend this week, where key targets start at 1.5315. Note that the daily closing  above 1.5535  could postpone resuming this suggested bearish trend and helping it to return to the bullish direction.

The trading range for today is among the key support at 1.5230 and the key resistance at 1.5730.

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

Support 1.5485 1.5425 1.5390 1.5315 1.5230

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Resistance 1.5535 1.5605 1.5650 1.5730 1.5810

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Recommendation Based on the charts and explanations above our opinion is selling the pair around 1.5535 targeting 1.5315 and stop loss above 1.5650, might be appropriate.

The pair has not witnessed any major changes in recent trading, where it continues fluctuating around SMA 50 within the upside channel organizing the ascend over an intraday basis. Attempts of breaching pivotal resistance 84.25 are continuing, where momentum indicators are presently neutral. We may witness fluctuations until positive momentum supports the breach of the mentioned resistance level, and then resume the expected bullish direction this week starting initial targets around 85.95. Note that breaching 83.30 and building a base below it could postpone achieving this scenario.

The trading range for today is among the key support at 81.90 and the key resistance at 86.25.

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

Support 83.75 83.30 82.55 81.90 81.65

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Resistance 84.25 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 with the breach of 84.25 targeting 85.95 and stop loss below 83.15, might be appropriate.

The pair strongly pushed to the upside touching the retest level for the previously breached ascending channel, which has currently turned into resistance at 0.9710. The importance of this return to this level as the bullish technical pattern is forming and its neckline is at the mentioned resistance level, where this paves the way to return within the ascending channel once again. The stochastic is showing negative signs that support this resistance’s strength, alongside SMA it is facing at that level; therefore, we recommend keeping an eye on upcoming trading and daily reports in order to insure the upcoming direction more specifically. Meanwhile, we require a clear breach of this level to insure returning within the intraday bullish direction.

The trading range for today is among the key support at 0.9400 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 0.9680 0.9615 0.9545 0.9500 0.9460

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Resistance 0.9710 0.9770 0.9810 0.9875 0.9945

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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 chart above shows sideway trading range, dominating the pair between 1.0000 and 1.0140, while short term trading is within the key descending channel since its resistance is at 1.0205. Momentum indicators are giving off negative signs that show expectations of trading to continue within this downtrend and thereby we hold onto expectations of a bearish direction within the mentioned channel, but keep in mind the breach of 1.0205 and building a base above it will cancel out the suggested bearish direction. Bearish targets start at 0.9925 then 0.9815.

The trading range for today is among the key support at 0.9815 and the key resistance at 1.0325.

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

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Resistance 1.0140 1.0205 1.0245 1.0280 1.0325

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Recommendation Based on the charts and explanations above our opinion is selling the pair around 1.0140 targeting 0.9925 and stop loss above 1.0245, might be appropriate.