Bulls are tending to break more and more new highs, but so far they have some problems near the stiff pivot-zone 107.52-107.91. Nevertheless buyers’ target at 109.12 is still actual as ADX indicator resides in a very strong area!
Local dynamic support stands at the 107.52 mark (middle Bollinger band). Downward technical correction is supposedly directed to this region.
The major will test middle Bollinger band (107.90) shortly, from where a new upward movement will be highly likely. In case of break of this support the quotes will slide to the 107.52-017.64 region.
Main scenario: Touch of 107.90 and then growth in direction 108.40-108.50.
Alternative scenario: Decline to the 107.52-107.64 region.
Seeking for local buy signals at 107.90 and 107.52-107.64.