The pair maintains its’ weekly stability above 80.70 which was breached recently, to add more confirming for the expected bullish bias continuation on the intraday basis.
The main target is located now at 83.45, while achieving it requires stability above 80.70
Expected trading range for this week is between: 80.00 support and 83.45 resistance.
Expected trend for today: Bullish
The pair was able to breach 1.5900 within this day and week opening, which opens the way for visiting the bearish correction channel resistance at 1.6020
In general, the bearish correction trend remains valid, as the trading remains below 1.6020; therefore we expect that the pair might move bullishly towards the mentioned level before confirming the next trend on the short term basis, pointing that breaching 1.5900 followed by 1.5800 will push the price strongly for more bearishness.
Expected trading range for this week is between: 1.5650 support and 1.6250 resistance.
Expected trend for today: Bullish temporarily, neutral at the mentioned resistance.
The pair still stuck between the retest levels, for the double top pattern at 1.2800 and the falling wedge which moving lower now towards 1.2645, while surpassing one of these level is needed in order to confirm one of them superiority over the other.
Accordingly, we need to stay aside for now until getting clearer signals for the trend.
Expected trading range for this week is between: 1.2500 support and 1.3000 resistance.
Expected trend for today: Neutral
The pair gets back to trade below 0.8100, to reinforce our bearish trend scenario for today, which initially targets levels near 0.8000
Note that breaching 0.8145 will reverse the intraday trading towards the upside to retest levels near 0.8265
Expected trading range for today is between: 0.7950 support and 0.8200 resistance.
Expected trend for today: Neutral