The pair achieved a break below 1.2900, to add more confirmation for the continuation of the preferred bearish trend this morning, waiting for main targets that located near 1.2700, and the EMA50 supports the suggested downside track scenario.

Expected trading range for today is between: 1.2800 support and 1.3035 resistance.

Expected trend for today: Bearish

The pair rose yesterday facing the expected resistance around 132.70, noticing the stability of the trading below this level attempting to form bearish bias as was expected in the previous report.

Accordingly, we keep our near term bearish trend expectation to achieve 130.80 followed by 129.90 as main target for the bearish trend, we notice the fluctuation of Stochastic in tight range between 80 and 50 which supports the stability of the bearish trading.

Expected trading range is between 130.00 and 132.70

Expected trend for today: bearish if the resistance level remains intact

The pair returns to form bullish wave to finish at the resistance level 156.70 to be trading in tight range between this level and the initial support 154.90 to find an access that allows the price to continue in medium term trading, therefore we are continuing in expecting the intraday negative by breaking the initial support to reach 153.10 as an initial target.

Stochastic moves positively in spite of the stability below the main bullish channel’s resistance, which supports the intraday sideways trading until it gains the required momentum to record the suggested targets.

Expected trading range is between 156.20 and 153.40

Expected trend for today: bearish

By the above chart we notice the sideways bias levels recently which is limited between the main resistance 1520.00 and the initial support 1460.00, therefore we recommend the neutrality in spite of the price affection by the main bearish bias until surpassing one of the previous levels.

Stochastic conflicts with the main bearish bias which supports the continuation of the sideways trading until surpassing the recent levels to visit the previously suggested targets around 1440.00 and 1400.00

Expected trading range is between 1520.00 and 1460.00

Expected trend for today: neutral