EUR/USD 1.4166 - 24 July

EUR/USD Open 1.4163 High 1.4289 Low 1.4138 Close 1.4143

Euro/Dollar was trading hesitantly on Thursday. The currency couple climbed to 1.4289 top, from where descended down to 1.4138, closing the day at 1.4143. There is a narrowing trading range on the 1 hour chart, indicating consolidating market with unclear direction yet. Our preferable scenario in the short term is downwards. An important key resistance upwards is yesterday's peak at 1.4290 level. Break above this quote may trigger further rising impetus towards next upwards objective 1.4400. The nearest support is represented by yesterday's bottom 1.4135 level. If that level is penetrated, we may see further decreasing impulse with possible test of 1.4020. The CCI indicator has crossed down the 100 line on the 1 hour chart, indicating bearish pressure.

Technical resistance levels: 1.4290 1.4400 1.4515

Technical support levels: 1.4135 1.4020 1.3900

Trading range: 1.4180 - 1.4115

Trend: Downward

Sell at 1.4166 SL 1.4196 TP 1.4126

Yesterday we made +7 pips profit on EUR/USD from the following signal:

5:40 GMT+1 Sell EUR/USD at 1.4239 SL 1.4265 TP 1.4189 exited at 5:48 GMT

Total yesterday +89, as shown at