We believe that the pattern’s effect will be limited as the SMA 50 provides good support for the pair. On the other hand, Stochastic entered oversold areas signaling the near return to the intraday bullishness today which requires the breach and stability above 1.4550 and SMA 50 stability against any downside attempts.

The trading range for today is among the major support at 1.4400 and the major resistance at 1.4725.

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

The pair continues the downside correction expected yesterday, reaching the first correction level, the 23.6% Fibonacci at 1.6450. Meanwhile, Stochastic is trading within oversold areas alongside support from the SMA 50 from below. Therefore, we favor the likelihood for an intraday upside move targeting areas from 1.6630 then 1.6700. Breaching 1.6450 will extend the downside correction towards 1.6360 and maybe 1.6285.

The trading range for today is among the major support at 1.6360 and the major resistance at 1.6630.

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

The pair is moving gradually towards the retest areas around 81.10 shown yesterday with Stochastic trading in oversold areas. Therefore, we hold onto our expectations for an upside rebound today targeting 82.55 then 83.50. We remind you that the expected upside move is part of the correction initiated with the breach of the resistance for the main descending channel shown above. Breaching 81.10 and stability below will drive the pair to the downside and settle for the seen correction.

The trading range for today is among the major support at 80.75 and the major resistance at 83.50.

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

The pair is stable below 0.8900 that is supported by the SMA 50. Stochastic is approaching overbought areas and accordingly we expect an intraday downside move today as trading continues within the descending channel shown above targeting areas at 0.8600. Breaching areas of 0.8900 will delay the expected targets.

The trading range for today is among the major support at 0.8600 and the major resistance at 0.9005.

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

The pair is trading with a slight upside bias since yesterday to start the upside correction as seen over four-hour basis. The pair is around the 38.2% correction at 0.9555 which resides with the SMA 50 alongside Stochastic entering overbought areas. Therefore, we expect the pair to resume the intraday downside move today targeting areas at 0.9450 and 0.9350. Breaching the aforesaid correction level will extend the upside correction towards 0.9615 and maybe further to 0.9665.

The trading range for today is among the major support at 0.9350 and the major resistance at 0.9665.

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