The latter represented the neckline for a bearish pattern and accordingly stability below it confirms the completion of the pattern. We expect further intraday downside movement affected by the pattern that might extend the downside correction for the upside move from 1.2870 to the recent top around 1.4940. Breaching areas of 1.4560 and consolidating above them will delay the expected downside move and drive the pair higher in an attempt to return to the upside wave.

The trading range for today is among the major support at 1.4300 and the major resistance at 1.4640.

The short-term trend is to the upside with steady daily closing above 1.2795 targeting 1.5135.

The minor descending channel’s resistance continued to halt the pair’s attempts to move to the upside which forced the pair to reverse to the downside approaching the critical support at 1.6300. This continued downside bias might cause an intraday downside move targeting the main ascending channel’s resistance around 1.6160. We should observe trading around this level as it might help restart the upside short term trend once again. Breaching 1.6160 will extend the downside move and breaching 1.6455 will carry the pair into the bullishness again.

The trading range for today is among the major support at 1.6160 and the major resistance at 1.6550.

The short-term trend is to the upside with steady daily closing above 1.5315 with targets at 1.7000.

The pair continues to trade within a tight sideways range around 80.00 areas, as the positivity on Stochastic is restricting the suggested downside move in our previous report. In general, stability below 23.6% Fibonacci correction and the negativity from the MA 50 make us hold onto our expected intraday downside move for today that requires the clear breach of 79.45 and stability below 80.75-25.

The trading range for today is among the major support at 78.00 and the major resistance at 81.25.

The short-term trend is to the downside as far as 89.35 remains intact with targets at 77.70.

The pair reached the MA 50 and fluctuating around it since yesterday, this move was accompanied by the overbought signals on Stochastic and accordingly we see chances for the pair to resume the intraday downside move targeting 0.8320 and 0.8200. Breaching areas of 0.8455 will pressure the pair higher to extend the bullish correction.

The trading range for today is among the major support at 0.8200 and the major resistance at 0.8550.

The short-term trend is to the downside with steady daily closing below 1.0330 targeting 0.8000.

The pair reached the support for the ascending channel shown above, yes still caught between the critical levels mentioned yesterday at 0.9710 support and 0.9845 resistance. Therefore, the intraday move today depends on the price behavior around those levels. Breaching 0.9845 will open the way towards 1.0000 while breaching 0.9710 will drive the pair towards 0.9645 in an attempt to return to the breached downside trend that was temporarily stopped for the upside correction.

The trading range for today is among the major support at 0.9565 and the major resistance at 0.9970.

The short-term trend is to the downside as far as 1.0665 remains intact targeting 0.9000.