Morning Report

The pair achieved the suggested scenario mentioned in the midday report yesterday in a flawless manner, where it was not affected by the pair's volatility especially since it is considered to be a safe haven and therefore maintaining its strength. The expected scenario shown yesterday is still intact and therefore we await a base to be built on 1.1050, followed by a rebound where the pair can achieve though it the bullish intraday trend that targets 1.1230 then 1.1290 mainly. The breach of 1.1050 could postpone achieving the awaited targets.

The trading range for today is among the key support at 1.1020 and the key resistance at 1.1290.

The short term trend is to the downside as far as 1.0200 remains intact with targets at 1.2000

Previous Report Weekly ReportSupport1.11201.10501.09851.09251.0880Resistance1.11851.12301.12501.13151.1355RecommendationBased on the charts and explanations above our opinion is buying the pair from 1.1050 targeting 1.1180 and stop loss below 1.0985, might be appropriate.