Following last week’s wide spread up candle which moved through both the 9 week and 14 weeks moving averages one would expect price action to continue upwards based on this solid move higher.  In the daily chart we are seeing a slight rollover as the market takes a breather and this may provide us with buying opportunities for any move higher this week.

However, price action on this pair has been characterized by a series of volatile moves one way with a prompt reversal in the opposite direction so tight stops will be the order of the day for any trades.  My suggestion for today would be to buy on any dips to the 91.80 level with a stop loss below 0.90 and with a short term target of 0.93 or above.

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