The pair was unable to build a base above 1.4100 to sharply bearishly reverse to attack the retest resistance level for the previously breached ascending channel, assisted by the clear negative momentum appearing through the four hour interval. This negative pressure could start a bearish correction for the last bullish wave that started at 1.2643. Insuring the start of this correction could be seen through the daily interval for the retest level currently at 1.3915, thus we must observe the daily closing. Keep an eye on the mentioned level that will determine the upcoming direction for the pair.

The trading range for today is among the key support at 1.3580 and the key resistance at 1.4155.

The short term trend is to the downside as far as 1.3140 remains intact with targets at 1.5135.

Support 1.3800 1.3770 1.3680 1.3630 1.3580

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Resistance 1.3915 1.3990 1.4085 1.4160 1.4200

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Recommendation Based on the charts and explanation above our opinion is observing the pair’s movement to insure its upcoming direction.

The pair found strong resistance around 1.6100 caused by a strong thrust to the upside after nearing the ascending channel’s resistance level shown above. This bearish trend will maintain natural trading within this bullish channel, thus some additional downside movement is expected in order to build a base on the support level around 1.5820, accompanied by stochastic entering oversold areas and followed by a bullish rebound. We expect the expected bullish trend to continue this week targeting levels above 1.6200. Note that breaching 1.5820 and the daily interval closes below it will cause the bullish scenario to fail.

The trading range for today is among the key support at 1.5700 and the key resistance at 1.6200.

The short term trend is to the downside as far as 1.6070 remains intact with targets at 1.3800.

Support 1.5915 1.5860 1.5820 1.5775 1.5700

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Resistance 1.5980 1.6040 1.6070 1.6100 1.6150

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Recommendation Based on the charts and explanations above our opinion is buying the pair around 1.5820 targeting 1.6070 and stop loss below 1.5700, might be appropriate.

The pair continues its downside trading within the minor descending channel shown above, where  SMA 50 continues negatively pressuring the pair as stochastic enters overbought areas. Thus, we expect the bearish trend to prevail this week since key targets are around 79.85 then 78.50. Note that it is vital that the daily interval is below 82.45 for expectations to prevail.

The trading range for today is among the key support at 78.50 and the key resistance at 82.65.

The short term trend is to the downside as far as 91.55 remains intact with targets at 78.50.

Support 81.00 80.15 79.60 79.00 78.50

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Resistance 81.45 81.95 82.45 82.95 83.45

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Recommendation Based on the charts and explanations above our opinion is selling the pair around 81.45 targeting 79.85 and stop loss above 82.45, might be appropriate

The pair was unable to stabilize below support for the downside short term channel as it rebounds to the upside to face pivotal resistance at 0.9640, highlighting this level that represents the suggested neckline for the bullish technical pattern placing the pair’s intraday trading within the suggested pathway. Surpassing this level and stabilizing as the daily interval closes above it paving the way for more upside movement towards the bearish channel’s resistance level at 0.9845, where building a base below it – strongly supporting the MA 50 alongside the negativity of momentum indicators – the negative momentum will maintain pressuring the pair and attempt to resume the key bearish trend. These conflicting signs will make us recommend observing trading today, especially for the mentioned resistance level in order to receive more insuring signs of a direction.

The trading range for today is among the key support at 0.9365 and the key resistance at 0.9845.

The short term trend is to the upside as far as 1.0235 remains intact with targets at 0.8000.

Support 0.9550 0.9500 0.9460 0.9400 0.9365

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Resistance 0.9640 0.9700 0.9745 0.9800 0.9845

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Recommendation Based on the charts and explanation above our opinion is observing the pair’s movement to insure its upcoming direction.

The pair strongly pushed upwards after achieving levels of 0.9975, but note that it was not able to resume the daily interval below the psychological barrier 1.0000. The pair is currently attacking the downward channel’s resistance level at 1.0165, supported by the bullish trend appearing through stochastic. Signs of a suggested bullish technical pattern are forming, where its neckline is around 1.0175 since if it does not succeed in resuming the daily interval above it the way will be open for an expected upside movement reaching 1.0325 then 1.0400. Meanwhile, continuing trading below mentioned resistance will maintain the pair’s bearishness intact. From here, we recommend keeping an eye on trading today, while awaiting for insuring signs of the upcoming trend.

The trading range for today is among the key support at 0.9875 and the key resistance at 1.0400.

The short term trend is to the upside as far as 0.9925 remains intact with targets at 1.1485.

Support 1.0140 1.0090 1.0000 0.9925 0.9875

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Resistance 1.0165 1.0240 1.0325 1.0400 1.0465

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Recommendation Based on the charts and explanation above our opinion is observing the pair’s movement to insure its upcoming direction.