The resistance level around the 1.4800 level is still causing the pair to decline and that is what happened today as well. On the short term, we see an ascending channel with a key support at 1.4715-1.4720 and since it reversed from the previously mentioned resistance, we see the pair today to reach the key support of the channel. Momentum indicators show the pair being overbought on the four hour chart which is assuring the intraday movements to the downside but as we said, the short term trend is to the upside as far as 1.4680 remains intact

The trading range for today might extend among the support level at 1.4630 and the resistance level at 1.4865

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

On the four hour chart we see a decline on the RSI indicator where the direction at the 14 level is sideways while the pair is still moving to the downside since the 25th of this month. From here we expect to see an upside correction targeting the 1.85 level at the very least but before finding a strong support to aid these movements. The strong support level starts from the 1.82 levels with the strongest at 1.8270. From another point of view, the 1.8225 level at the 38.2% correction for the ascending channel that started on June 17, 2001 can still be reached. We expect the movement for today to be fluctuating with tendency to the downside to gather bullish momentum to incline in the upcoming period.

The trading range for today might extend among the support level at 1.8220 and the resistance level at 1.8530

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

The pair is still experiencing heavy fluctuations yet with tendency to the downside alongside the weakness in direction seen on the MACD indicator on the hourly charts. We expect for today fluctuation movements to the downside as the pair might still witness slight upside movements yet the general trend remains to the downside. The medium term trend is to the upside targeting the 111 level.

The trading range for today might extend among the support level at 108.10 and the resistance level at 109.90

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

The direction for the pair is to the downside on the short term after the false breakout of the 1.1030 level where the air is currently trading below the 50 moving average on the four hour chart at 1.0960. We expect the continuation of these downside movements to reach the key support for the pair at 1.0865. However after reaching that level, the pair could gather enough bullish momentum to reverse to the upside once again yet on the other hand, we believe the pair will attempt to breach this support and the chances of doing so are high because this support is not a correctional level for the ascending channel initiated on 15 July, 2008.

The trading range for today might extend among the support level at 1.0810 and the resistance level at 1.1070

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

Clear fluctuations around the 38.2% correction level but up until now the pair doesn't have enough momentum to build a solid base above it. Today we expect this level to be breached and the short term trend on an intraday basis will be to the downside while the medium term trend remains to the upside. The pair is targeting the 1.0350 to retest it which was the trigger for the pair to incline on the medium term.

The trading range for today might extend among the support level at 1.0260 and the resistance level at 1.0695

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