The pair has fallen sharply below its 200-day moving average during the previous period, finding modest support at 1.5820 pivotal support regions as seen on the provided daily chart. The recent mild bounce from the aforementioned support has alleviated the oversold condition in the RSI 14 indicator but we still can notice that a bearish momentum channel has been drawn on the indicator. To recap, the current retracement should be well-capped below 1.60 figure while re-visiting 1.58 territories followed by 1.5740 will be likely in the cards.

The trading range for this week is among key support at 1.5630 and key resistance at 1.6180.

The general trend over short term basis is to the  downside  targeting  1.4225  as far as areas of  1.6875  remain intact.

Support 1.5850 1.5780 1.5730 1.5685 1.5630

Resistance 1.5960 1.6000 1.6075 1.6125 1.6180

Recommendation Based on the charts and explanations above our opinion is, selling the pair around 1.5960 targeting 1.5740 and stop loss above 1.6125 might be appropriate this week.

The EUR/USD pair has consolidated below the previous broken neckline of our detected double top pattern for the most of the previous week as seen on the provided daily chart. SMA 20 should add additional strength for the aforesaid resistance to keep the classical pattern valid as well. Having said so, we still see chances for witnessing potential downside movements during this week mainly targeting 1.2590 boundaries; noting that a sustained breakout above 1.2890 areas will shift the bias to neutral.

The trading range for this week is among key support at 1.2500 and key resistance at 1.3000.

The general trend over short term basis is to the  downside  targeting  1.1865  as far as areas of  1.3550  remain intact.

Support 1.2700 1.2630 1.2590 1.2530 1.2500

Resistance 1.2810 1.2860 1.2915 1.2955 1.3000

Recommendation Based on the charts and explanations above our opinion is, selling the pair around 1.2765 targeting 1.2590 and stop loss above 1.2890 might be appropriate this week.

The pair resumes its’ sideways  trading range which is limited between 0.9400 and 0.9625, noting that EMA50 and Stochastic are supporting the price now, in a sign for a potential intraday bullishness towards 0.9625 resistance.

Accordingly, the sideways’ range will remain dominant unless one of the aforementioned levels was surpassed.

Expected trading range for this week is between: 0.9300 support and 0.9625 resistance.

Expected trend for today: Sideways

By the above chart, we found that the pair was limited recently inside a falling wedge pattern which it succeeded in breaching it today, this pattern is a positive-type-pattern, and might assist in turning the price back to the bullish channel again and stopping the current bearish correction.

Therefore, we prefer staying aside due to the conflict between the technical factors, which is between the mentioned pattern positivity and Stochastic and EMA50 negativity.

Expected trading range for this week is between: 0.7900 support and 0.8400 resistance.

Expected trend for today: Neutral