The pair continues its positive attempts to surpass the EMA50, as a signal for a potential test 1.2970

And as we mentioned this morning, our bearish trend expectations will remain valid and active unless breaching the mentioned level, which will lead to a potential test for levels between 1.3040 and 1.3145

Expected trading range for today is between: 1.2800 support and 1.3040 resistance.

Expected trend for today: Bearish

The pair remains stable in its bullish bias attempting to get rid of its obstacle around 132.35 to reach 133.20 which represents the main resistance against the bullish trading, thus we keep our bullish expectation if the initial support 130.90 remained intact for today which is supported by the moving average 55.

Stochastic attempts to settle below 80 level which supports the positive trading weakness until gaining the required positive momentum, carefully note that any attempt to break below the initial support level will push the price to create bearish bias to reach 129.80 then 128.80.

Expected trading range is between 133.20 and 131.90

Expected trend for today: bullish if the initial support remained intact 

The pair succeeded to break the initial support level around 155.80 to begin its correctional and expected trip to visit 154.25 which represents the moving average55 then 182.85, and the price needs a strong momentum to reach the suggested targets, hence Stochastic reached the oversold levels as appears in the above chart.

Therefore, hitting 156.05 as a retest for the broken level is possible until gaining the required momentum to achieve the suggested targets.

Expected trading range is between 156.05 and 154.25

Expected trend for today: bearish

By the daily chart we notice the stability of the price below the main resistance1520.00 which is supported by 50 % Fibonacci in spite of Stochastic attempts to form bullish bias, therefore the price remains affected by the negative bias generally in spite of the recent dominant sideways trading.

Accordingly we remain in the bearish expectation if the resistance level settled to reach 1425.00 then 1400.00, we must mention that Stochastic track might attract the price towards the resistance to form short term bullish bias before reaching the suggested targets.

Expected trading range is between 1500.00 and 1430.00

Expected trend for today: bearish