EUR/USD Open 1.4408 High 1.4481 Low 1.4376 Close 1.4411

On Wednesday Euro/Dollar increased with 105 pips on good German IFO business climate index. The European currency appreciated from 1.4376 to 1.4481 yesterday, matching the positive Interbank sentiment projection at over +1%, later losing almost all gains, closing the day at 1.4411. This morning the Euro is trading quietly against the Dollar, with movements within yesterday's range for now. On the 1 hour chart quotes are still testing the upper limit of the trading range, while on the 3 hour chart trading is within wider range. Break above the nearest resistance and yesterday's top at 1.4481 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.4376, however, would confirm continuation of the bearish trend, towards next objective downwards 1.4260. There are no major economic events for EU today. Quotes are moving just bellow the even 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is neutral and rising, MACD is neutral and quiet, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving overall neutral signals.
Technical resistance levels: 1.4481 1.4600 1.4722
Technical support levels: 1.4376 1.4260 1.4141

Trading range: 1.4390 - 1.4465
Trend: Upward
Buy at 1.4403 SL 1.4373 TP 1.4453

Yesterday we made +27 pips profit on EUR/USD from the following signal:
5:25 GMT+1 Buy EUR/USD at 1.4408 SL 1.4382 TP 1.4458, exit sent at 7:56 GMT+1.
Total yesterday +123, as shown in details at