Trading today opened sharply higher pushing the pair above the SMA 50 which resides with the minor resistance shown above. In general, we expect an intraday upside move today supported by Stochastic, and requires the clear breach of 1.4280 and stability above 1.4150.

The trading range for today is among the major support at 1.4120 and the major resistance at 1.4455.

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

The pair rushed to the upside to return within the main ascending wave after yesterday’s closing above the main ascending channel’s support. We believe that this is a strong confirmation and expect an intraday upside move today that might be preceded with fluctuations and a downside bias due to the negativity on momentum indicators and then move towards targets from 1.6600. Stability above 1.6340 is required for our expectations to prevail.

The trading range for today is among the major support at 1.6340 and the major resistance at 1.6675.

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

The pair breached the minor ascending channel’s support mentioned yesterday and stabilized below the SMA 50. Also, the negativity on Stochastic was activated and is pushing the pair lower towards critical support areas from 80.75 then 80.05. We need to observe trading today especially around the critical areas starting with the support mentioned and the resistance at 81.70, the support for the ascending channel that turned not into resistance after the breach. Therefore, we remain neutral today and observe the pair for more confirmations. 

The trading range for today is among the major support at 79.00 and the major resistance at 83.00.

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

The pair declined sharply and acquired the awaited targets around 0.8550, while momentum indicators entered oversold areas supporting the strength of the mentioned support. We might see some volatility with an upside bias for now to unload the upside momentum, yet in general, we expect the pair to continue the intraday downside move today targeting 0.8425 then 0.8320. An hourly closing below 0.8550 is required to open the way for acquiring the targets. 

The trading range for today is among the major support at 0.8320 and the major resistance at 0.8740.

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

For the fourth consecutive day, the pair is still hovering around the 61.8% correction as shown on the daily chart above. The negative pressure on the pair is from the clear bearish signals on Stochastic. We reconsider our intraday expectations as we see the likelihood for a downside bias today targeting mainly the return to the breached downside wave with the breach of the support at 0.9610. Breaching areas of 0.9845 will negate our expectations for today.

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.