Morning Report

The pair continues fluctuating near support for the minor ascending channel around 91.20, while SMA 50 continue ascending as strong resistance in front of the pair's attempts to ascend. The suggested scenario yesterday will prevail, where we still see that the direction for today is bullish due to support from the bullish signsof Stochastic. Theawaited targets start at 93.30, which require the four hour candlestick closing to remain intact above 90.60 to prevail.

The trading range for today is among the key support at 90.60 and the key resistance at 93.30.

The short term trend is to the downside as far as 101.65 remains intact with targets at 82.60.

Previous Report Weekly Report

Support91.2090.6090.0089.5589.00Resistance91.8092.2592.6592.9093.30RecommendationBased on the charts and explanations above our opinion is buying the pair around 91.20 targeting 92.25 and stop loss below 90.60, might be appropriate.