Morning Report

The pair pushed to the upside in a volatile manner breaching 1.1000 accompanied by momentum indicators entering overbought areas, which could cause some minor bearish correction for the last bullish wave before achieving more bullish direction for today.MA 50 is supporting the current bullish wave that requires the daily closing to remain above 1.0925 to insure its continuation.

The trading range for today is among the key support at 1.0925 and the key resistance at 1.1210.

The short term trend is to the downside as far as 1.1095 remains intact with targets at 0.9910.

Previous ReportWeekly ReportSupport1.09901.09251.08801.08401.0805Resistance1.10501.10951.11601.12101.1250RecommendationBased on the charts and explanations above our opinion is buying the pair from 1.0990 targeting 1.1095 and stop loss below 1.0925, might be appropriate.