Momentum indicators are in overbought areas that might push the pair to the upside, yet on the other hand, we have signs of a bearish pattern with the proposed neckline around 1.4305. Therefore, we recommend observing the pair and follow up on our coming reports for more detailed signals for the coming move.

The trading range for this week is among the major support at 1.4150 and the major resistance at 1.4560.

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

Breaching the areas of 1.6300 activated the bearish technical pattern and pushed the pair to the downside approaching the main ascending channel’s support as shown above. This downside move and approaching the support at 1.6180 is still ideal for trading within the ascending channel. Therefore, we expect an upside reversal to resume trading within the channel targeting first 1.6455. We should take into consideration that the breach of 1.6180 and stability below it would extend the downside correction in the coming period.

The trading range for this week is among the major support at 1.6000 and the major resistance at 1.6545.

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

The pair has been trading with some positivity in the past few days, which was mainly affected by Stochastic that started to lose the upside momentum and entering overbought areas; also, the MA 50 is a strong resistance against the pair. Therefore, we see the chances for the pair to move to the downside this week targeting mainly the return to the downside wave through 79.30, where the expected bearishness requires stability below the resistance areas of 80.75-81.40.

The trading range for this week is among the major support at 78.00 and the major resistance at 82.50.

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

The pair broke through the MA 50 and rushed to the upside affected by the minor bullish pattern that will carry the pair towards 38.2% Fibonacci correction at 0.8540.  Stochastic is moving within overbought areas and therefore we favor the likelihood for the pair to resume the general downside move expected for this week targeting mainly 0.8200 areas. Breaching the mentioned correction areas will extend the upside move likely towards 0.8670 areas.

The trading range for this week is among the major support at 0.8180 and the major resistance at 0.8670.

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

The pair continues to trade structurally within the main ascending correctional channel shown above, which was mentioned in our previous reports. Stochastic is trading within overbought areas and might pressure the breach of the channel’s support and carry the pair to the general downside move again; meanwhile stability above the 61.8% Fibonacci correction might support trading within the mentioned ascending channel. Therefore, the intraday direction for this week depends on the price behavior around the sensitive support at 0.9710 and resistance at 0.9845. Breaching 0.9710 will drive the pair towards 0.9565 then 0.9500 while breaching 0.9845 will drive the pair initially towards 1.0000.

The trading range for this week is among the major support at 0.9565 and the major resistance at 1.0000.

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