Morning Report

The upside continued nearing levels below 50% correction at 0.9110, which is accompanied by the upper Envelopes Band,with adjusteddeviation to suit the pair; where these levels could be able to temporarily delay the upside move, at a time we witness momentum indicators showing clear overbought signs, while ADX, despit of its upside indication, it is showing some negative reversal on the D+ line.Yesterday's closingwas somehow negative, which makes us expect that 0.9110 will be able to halt the upside move temporarily and reverse the pair to the downside in correctional wave.

The trading range for today is among the key support at0.8905 and the key resistance at 0.9180.

The general trend is to the downside as far as0.8020 remains intact with targets at 1.0000 and 1.0400.

Support0.90300.90000.89600.89050.8880
Resistance0.90900.91100.91800.92250.9260
RecommendationBased on the charts and explanations above our opinion is selling the pair at 0.9090 To 0.9000 and stop loss above 0.9130, might be appropriate