The pair remains fluctuating in sideways range since morning, and hovers around 1.2865, while we still prefer the bearish trend for the rest of today’s trading, supported by the EMA50, reminding you that holding below 1.2970 is conditioned for the continuation of these negative expectations.

Expected trading range for today is between: 1.2725 support and 1.2970 resistance.

Expected trend for today: Bearish

The pair’s trading settled negatively by the stability of the main resistance level at 132.80 to notice recording 131.75 since the morning trading, we expect the continuation of the bearish bias in the near and medium period in order to achieve 129.90 which represents the initial support level which is supported by the moving average 55

Stochastic settles below 50 level to support the bearish expectation to achieve the moving average conditioned by the stability of the trading below the previously mentioned resistance, we must remind you that the main bullish bias remains valid if 126.60 settled as a solid barrier against the price decline towards the old levels.

Expected trading range is between 132.30 and 130.00

Expected trend for today: bearish 

The pair remains trading in tight and limited range between the main resistance level around 157.00 for today and the initial support level 155.00 which breaking below it will support the domination of the bearish bias in the near period to achieve the moving average level as a first target for the bearish trading at 153.40.

The continuation of the trading below the main resistance supports the bearish overview, supported by the stability of Stochastic below 50 level as appears in the above chart to keep waiting for achieving 153.40 as a main target for the bearish trading.

Expected trading range is between 156.50 and 153.40

Expected trend for today: bearish 

The positive scenario is continued due to the stability of the mentioned levels in the previous report, noticing that the price attempts to settle below the moving average affected by the bearish and main bias for the current trading.

Therefore, we recommend the risky traders to continue in the bearish bias to achieve 1460.00 then 1440.00, while we recommend the daily trader to monitor the trading until getting rid of the dominant sideways trading.

Expected trading range is between 1498.00 and 1440.00

Expected trend for today: bearish