As we mentioned in our instant technical updates messages, the pair broke 1.5820 level followed by daily close below it, which solidify the expectations for more downside correction which targets now 1.5690, this level represents 61.8% Fibonacci for the bullish wave from 1.5266 to 1.6377

EMA50 supports more decline, while stochastic provides positive signs that might keep the sideways range dominant for a while.

Expected trading range for today is between: 1.5630 support and 1.5900 resistance.

Expected trend for today: Bearish

The pair found solid resistance near 1.3400, which represents the most important level to push the price for more positive actions, while the bullish wave stops below this level, and stochastic negativity adds more reasons to this level’s strength.

In general, the bullish trend will be preferred and valid, waiting for clear breach to the mentioned level to open the way to test the critical barrier at 1.3485, noting that breaking below 1.3300 followed by 1.3250 will weaken the chances of achieving the waited rise and might lead into possible intraday turn to the downside.

Expected trading range for today is between: 1.3250 support and 1.3485 resistance.

Expected trend for today: Bullish

The pair pushed negatively to break the upside channel’s support at 1.0500 followed by 1.0485, while settling below these levels will confirm more bearish actions towards 1.0365

Its important to monitor the daily close according to the mentioned support levels

The pair broke 1.5820 level and attempts to settle below it, this factor represents the key to head towards the next correction level at 1.5690

The bearish bias will be preferred in the upcoming period as long as trading is settled below 1.5820