Trading is stable within the ascending short term channel while the SMA 50 provides the needed support for the current upside wave. Stochastic entered oversold areas and accordingly we see the likelihood for the pair to return to the intraday upside move today targeting areas from 1.4500. The negative pressure on areas of 1.4330-00 might pressure the pair to extend south towards the support for the current ascending channel at 1.4200.

The trading range for today is among the major support at 1.4300 and the major resistance at 1.4580.

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

The pair is stable above the 76.4% correction at 1.6250 which keeps the upside possibility valid. On the other hand, momentum indicators are negatively pressuring the pair and fueling the fluctuations around the aforementioned correction. In general, we see the fluctuations extending today until the pair unloads the negative momentum and then resume the intraday bullishness for the day targeting areas from 1.6500. Stability above 1.6250 areas is required for our expectations to prevail.

The trading range for today is among the major support at 1.6200 and the major resistance at 1.6500.

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

The pair declined with the start of trading today reaching 38.2% correction at 83.50 which turned into support after its breach; at the same time, Stochastic is approaching oversold areas supporting the possibility for the pair to return to the upside correctional move supported by the SMA 50. We will remain neutral today and observe the price reaction around the critical 83.50 support as a breach of which will extend the downside move to retest the breached resistance of the downside channel at 81.75, while its stability support the return to the upside to resume the bullish correction.

The trading range for today is among the major support at 82.70 and the major resistance at 85.65.

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

The pair continues to trade with a downside bias and currently hovering around the critical support areas of 0.9025-00 alongside oversold signals on momentum indicators that might trigger an upside correctional move. In general, the pair is still affected by the completed bearish technical pattern at 0.9125 and the negativity on the SMA 50 and accordingly we expect the intraday bearishness will prevail today targeting 0.8900 then 0.8885. Stability below 0.9125-40 is required for our expectations to prevail.

The trading range for today is among the major support at 0.8885 and the major resistance at 0.9140.

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

The pair breached the intraday descending channel’s resistance shown above, yet the SMA 50 is restricting the pair from extending a strong upside move. Momentum indicators are approaching overbought areas and accordingly we favor the likelihood for a slight upside move to retest 0.9665 before reversing south to resume the intraday bearishness today targeting areas from 0.9400. Stability below 0.9665 areas is essential to ensure reaching the targets will not be postponed

The trading range for today is among the major support at 0.9400 and the major resistance at 0.9740.

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