The pair dropped reaching close to the second target of the bearish Harmonic Butterfly Pattern at 0.9855 levels. Stochastic is showing oversold signals as the harmonic technical analysis shows that the second target at 0.9855 represents an interval between the possible extension of the targets or settling for the downside move. Therefore, we remain neutral in our weekly report waiting for new confirmation signals.

The trading range for this week is among key support at 0.9735 and key resistance at 1.0040.

The general trend over short term basis is to the downside at levels 1.0125 targeting 0.9400.

Support 0.9855 0.9825 0.9800 0.9770 0.9735

Resistance 0.9900 0.9935 0.9950 0.9980 1.0000

Recommendation Based on the charts and explanations above, we remain neutral for now awaiting more confirmations for the next move

The pair stabilized above Linear Regression Indicators but still trading negatively; Stochastic is also showing overbought signals. Therefore, we remain neutral in our weekly report, especially that breaching the Linear Regression Indicators was seen with a bearish opening gap. Areas of 0.9305 and 0.9280 levels are the most important support levels, while 0.9435 is the closest resistance levels over weekly basis.

The trading range for this week is among key support at 0.9240 and key resistance at 0.9505.

The general trend over short term basis is to the downside at levels 0.9775 targeting 0.8860.

Support 0.9345 0.9305 0.9280 0.9240 0.9200

Resistance 0.9375 0.9435 0.9485 0.9505 0.9570

Recommendation Based on the charts and explanations above, our opinion is buying the pair above 0.9305 targeting 0.9345, 0.9375 then 0.9405 and stop-loss with four-hour closing below 0.9240 might be appropriate

The pair’s trading remained limited below 82.65 levels with four-hour closing as shown on the chart. The possibility of a bearish move remains valid with stability below 83.35  as the pair might be forming a harmonic formation. RSI is trading negatively and Stochastic provided a negative crossover close to 70 levels supporting the negative outlook.

The trading range for this week is among key support at 79.80  and key resistance at 84.15 .

The general trend over short term basis is to the downside stable at levels   0.9775   targeting   0.8860 .

Support 82.25 82.00 81.60 81.00 80.65

Resistance 82.65 82.80 83.00 83.35 83.55

Recommendation Based on the charts and explanations above, our opinion is selling the pair below 82.40 targeting 82.00, 81.60 then 80.65 and stop-loss with four-hour closing above 83.35 might be appropriate this week

The pair returned to trade below key resistance level of the bearish correctional move shown on the chart which might cause a new downside wave. The suggested wave might retest levels close to 1.5910; breaching correction 38.2% and stability below it is required to extend the bearish move. Failure to breach the mentioned areas might cause a strong upside move. Our expectations are negative this week, but if the pair fails to breach 1.5910 we will turn positive.

The trading range for this week is among key support at 1.5790 and key resistance at 1.6310.

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

Support 1.6000 1.5975 1.5910 1.5880 1.5820

Resistance 1.6065 1.6100 1.6115 1.6145 1.6165

Recommendation Based on the charts and explanations above, our opinion is selling the pair around 1.6035 targeting 1.6000, 1.5975 then 1.5910 and stop-loss with four-hour closing above 1.6070 might be appropriate this week