EURUSD trades in a narrow range after hitting the temporary top of 1.11891. It hits a low of 1.10863 yesterday and is currently trading around 1.11350.
German IFO business climate index declined to 85.4 in Sep from 86.60 previous month, compared to a forecast of 86.
The pair trades above short-term (34 AND 55 EMA) in a 4-hour chart. Major resistance to watch- 1.11554/1.1168/1.1200. Bullish continuation only above 1.12050.
Major support- 1.1100,1.1060/1.100/1.09880.
Indicators ( 4- hour chart)
Directional movement index -Neutral
CCI (50)- Bullish
CCI(14)- Bullish
It is good to buy on dips around 1.11200 with SL around 1.1078 for a TP of 1.1200.
