Once again, we can see how the pair failed to stabilize above the 50 EMA around 0.8790, also at the chart above we can clearly see that the pair is moving within a sideways range among 0.8885 and 0.8650 and 0.8600. Accordingly, it's better to stay aside today as well, as the trading range for the pair is getting narrower among the 50 EMA and the support levels in addition to positivity on momentum indicators but faliure to stabilize above the 50 EMA. All the contradictions push us to stay aside.
Trading range for the week is among the major support at 0.8490 and the major resistance at 0.9000.
The short term trend is to the upside targeting 1.0370 as long as 0.8165 remain intact.
|Recommendation||Based on the charts and explanations above we recommend staying aside awaiting more confirmations for the next move.|