German Business Confidence Rose to 18-Month High in January:

The report was published an hour ago and it supported the EUR against the USD. The current price of the pair is 1.4101. The CB Consumer Confidence will be published later on today at 3:00 p.m. GMT. If the actual report is higher than the forecast (53.6) we may see some positive movements for the European currency. At this hour according to the technical analysis EUR/USD is still in downtrend position. The pivot point is now located around 1.4095.