During yesterday trades, the pair did not succeed to break the resistance level 1.3425 to form a new top at this level and this is the second consecutive top at the same level to provide the appearance of the double top pattern that reflects the bearish direction, the existence of this pattern will be confirmed after breaking its bottom which is the support area between the levels 1.3276 and 1.3260. And in this case the pair will target to decline till reaching the level 1.3110 which represents the target of the double top pattern, and in the case of completing forming a new bottom at the support area between the level 1.3276 and 1.3260 that the current trades are around, the possibility of the existence of the pattern that reflects the direction will be ended, then the pair will rise again till reaching the resistance level 1.3425 which with its breaking the pair will rise again to reach the level 1.3497 which represents the target of the cup and handle pattern.
Res. 1.3394 1.3481 1.3532
Sup. 1.3256 1.3205 1.3118
Yesterday, the pair was able to collect the needed momentum to break the resistance level 1.5475, this supported the short-term trades and the intraday trades to hit the support level 1.5645 for the second time after the pair tried to break it at the end of the last week trades and did not succeed and still stable till now against the pair second test.
It is important to notice that the strongest level the pair will face is the support level 1.5520 which will determine the direction of the pair during the upcoming trades. if this level held, the pair will immediately rise targeting the resistance level 1.5645 as the first target in this rising.
RES. 1.5669 1.5752 1.5867
Sup. 1.5478 1.5370 1.5281
Yesterday, the pair rose reaching the resistance level 0.9525 which is still holding against the pair till now, and it is important to notice that this level coincides with the top boarder of the bearish channel in which the pair is moving for the medium period so the expectations refer to the possibility of holding this level against the pair testing and reflecting the pair down trying to correct this rising during the intraday levels targeting the support level 0.9385 which coincides with the medium boarder of this bearish channel.
It is important to note that if the pair succeeded to break the resistance level 0.9525 with a good close above, means the tendency of the pair to gain more rising during the intraday and the medium-term trades and also means its exiting out of this channel to target the resistance level 0.9725 as the first target of this rising.
RES. 0.9561 0.9632 0.9759
Sup. 0.9367 0.9246 0.9173
As expected through yesterday report, the pair was pushed up breaking the resistance level 0.9949 with breaking the upper boarder for the bearish channel, this bullish move represents the beginning of a correction bullish direction from the expected to be continued during the next trades, whereas the pair is targeting to reach the level 1.0049 which represents 50% Fibonacci retracement correction level for the bearish direction ( from 1.0208 to 0.9889 ) and also represents the target for the broken channel, a further rise is also expected by breaking the resistance level 1.0049 then reaching the level 1.0133 which represents 76.4% Fibonacci retracement correction level for the same mentioned bearish direction.
This expectation depends on the stability of the support level 0.9964.
Res. 1.0040 1.0097 1.0159
Sup. 0.9921 0.9859 0.9802
The pair wasn’t satisfied by reaching the level 1.0065 during yesterday trades which represents the targeted price for the broken down bullish channel but it continued falling breaking the support level 1.0043 which represents 50% Fibonacci retracement correction level for the bullish direction ( from 0.9830to 1.0255 ) whereas the pair is trading now near the level 0.9993 which represents 61.8% Fibonacci retracement level for the same mentioned bullish direction which also with breaking it down means falling till the level 0.9930.
This expectation depends on the stability of the resistance level 1.0065.
Res. 1.0136 1.0223 1.0278
Sup. 0.9994 0.9939 0.9858