Trading below the mentioned level activated the suggested scenario in our previous weekly report, supported by the downside signal on Stochastic. Therefore, we expect further downside correction this week targeting 1.3910, a breach of which will extend the downside move towards 1.3665. We should observe the pair when reaching the target correction levels, as the current downside move is within the bearish correctional structure for the entire upside move shown above.

The trading range for this week is among the major support at 1.3665 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.

As seen above, the pair reversed to the downside after reaching the retest areas of the main breached support for the ascending channel. Trading reversed lower also after reaching the minor descending channel’s resistance alongside the pressure from the SMA 50 and Stochastic. Those facts combined make us expect a general downside move this week targeting 1.6045and require steady daily closing below 1.6295.

The trading range for this week is among the major support at 1.5880 and the major resistance at 1.6455.

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

The pair is attempting to stabilize above the SMA 50, which is the awaited confirmation to activate the upside correction mentioned last week. In general, we expect the pair to move to the upside this week due to stability above the main descending channel’s resistance targeting 83.50 then 84.50 and require stability above 80.25. We have signs of a bullish pattern under construction and will be detailed when completed.

The trading range for this week is among the major support at 80.25 and the major resistance at 84.50.

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 within the minor descending channel shown above, while Stochastic provided positive signals accompanied by reaching the channel’s support. This might force the pair to the minor resistance at 0.8850 which might be reached to towards the main channel’s resistance around 0.8900 which could carry the pair into the upside correction again that previously stopped at 50% Fibonacci. We need more confirmations whether the pair will continue to trade within the main descending channel or move to the upside to resume the bullish correction. Therefore, we recommend observing the pair for now and follow up on our daily reports for more details about the pair’s movement.

The trading range for this week is among the major support at 0.8485 and the major resistance at 0.9040.

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

The pair attempted to negate the upside pattern’s effect that was mentioned in our previous reports, yet the downside move ended exactly at the retest for the main descending channel’s resistance as shown above. We expect the main to continue the upside correction this week with the breach and stability above 0.9770; once this move is confirmed targets are around 0.9970, while breaching 0.9635 will carry the pair south once more.

The trading range for this week 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.