Today on the open the price opened with a gap down from the close on Friday, mainly due to fundamental reasons. Our view on the pair's trend still has not changed so we are still bullish for this week too. Since we believe that the pair is moving down for fundamental reasons, we expect the price to get support at M_PP at 110.11 after the news are priced in and then move on the upside. We will be looking for long positions around this area if the price action confirms support on this area.