The upside trend succeeded in providing the pair with bullish momentum as it continued to incline supported by the momentum indicators that show the pair is oversold alongside weakening in the bearish momentum on direction indicators on the medium term. The medium term trend remains to the downside as far as 1.5380 remains intact yet we expect to see a chance for a correction to the upside as it could retest the 1.50 level.

The trading range for today might extend among the support level at 1.4630 and the resistance level at 1.4890

The general trend remains to the downside as far as 1.5830 remains intact with targets at 1.4870 and 1.4340

Again, prices fell yesterday to near the 1.8530 level and the 61.8% correctional level at 1.8500 which gave it enough momentum to reverse to the upside. Although we still see the trend on the medium term to the downside supported by direction indicators, yet the current correction could extend since momentum indicators show the pair being oversold at the highest level since 1992 on the daily chart confirming that the short term trend is to the upside but that doesn't mean we might not see volatility and fluctuations on an intraday basis.

The trading range for today might extend among the support level at 1.8530 and the resistance level at 1.8920

The general trend remains to the downside as far as 1.8920 remains intact with targets at 1.9485 and 1.8070

Even as the pair built a strong base above the 110 level for quite some time yesterday, yet it reversed to the downside significantly to trade below the 109.80 level that separates the uptrend from the downtrend on an intraday basis to limit movements of the pair to reach the 111 level. The pair could undergo a correction to the downside on the short term after returning to the 108 level whereas the 108.40 level is the level that could support the pair to go back to the upside.

The trading range for today might extend among the support level at 107.50 and the resistance level at 110.30

The general trend remains to the upside as far as 103.00 remains intact with targets at 111.00 and 113.24

Despite attempting to breach the critical resistance level at 1.1025 - 1.1030 yet this attempt failed as the pair is heavily overbought as seen on the short term momentum indicators. We expect today the correction to continue to the downside reaching the levels below 1.0900 as directions indicators are now starting to tilt downwards on the short term. However, the 50 day moving average on the four hour chart could limit the downside movements but will not halt it as it lies at 1.0915.

The trading range for today might extend among the support level at 1.0805 and the resistance level at 1.1030

The general trend remains to the upside as far as 1.0570 remains intact with targets at 1.1025 and 1.1455

As the price rebounded from 1.0650, it breached the support level we pointed to yesterday as the pair was able to gather enough bullish momentum from the 38.2% fibonacci fan. Today the target will remain at 1.0545 and perhaps extend to 1.0520 which is the correctional level at the 50% fan whereas the final target is at the 38.2% fibonacci retracement at 1.0440.

The trading range for today might extend among the support level at 1.0440 and the resistance level at 1.0750

The general trend remains to the upside as far as 1.0350 remains intact with targets at 1.0825 and 1.1000