The pair remains trading in a very tight range, and begins today with attempts to break below 0.9240, and achieving this breaking is important to reinforce our expectations for the preferred bearish trend in our previous report.

In general, there is no change on our expectation and the mentioned targets in our previous report, which is supported by the EMA50’s negative pressure.

Expected trading range for today is between: 0.9100 support and 0.9350 resistance.

Expected trend for today: Bearish

The pair keeps the stability inside the bullish channel shown in the above four hours chart, while Stochastic reaches the oversold levels to support our expectations of continuing the bullish trend on the intraday and short term basis.

EMA50 offers good support for the bullish wave that initially targets 0.8600

Expected trading range for today is between: 0.8355 support and 0.8600 resistance.

Expected trend for today: Bullish

The pair was forced to decline a little yesterday and approached from the EMA50 which considered as a good support for the intraday trading, to keep the trading within the bullish channel show in the above image.

In general, we are continuing in our bullish trend expectations supported by stochastic, and targeting 1.0620 initially, while holding above 1.0500 is required to keep the positive scenario valid.

Expected trading range for today is between: 1.0450 support and 1.0700 resistance.

Expected trend for today: Bullish

Oil price returns to fluctuate at the minor bullish channel support, keeping the daily close stability above this support, which makes the scenario of the sideways trading range inside this channel valid, and a bullish bias will be preferred on the intraday basis.

Noting that breaking below 86.15 will open the way for testing the critical support 85.35, while breaching above 88.00 will ease the heading towards 89.20

Expected trading range for today is between: 85.35 support and 89.20 resistance.

Expected trend for today: Sideways