Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro- EURUSD Daily Outlook

Ichimoku analysis (1-hour chart)

              

 Tenken-Sen- 1.15987

 

 Kijun-Sen- 1.16045

 

EURUSD is trading in a narrow range between 1.16256 and 1.15845 for the past three days. Investor's eyes ECB monetary policy today for further direction. The central bank is expected to keep rates unchanged. Any reduction in the Pandemic purchase program (PEPP) will have a positive impact on the Euro currency. It hits an intraday low of 1.15831 and is currently trading around 1.15932.

 

Technical:

On the higher side, near-term resistance is around 1.1630 and any convincing breach above will drag the pair to the next level 1.16650/1.17010/1.1760. The pair's immediate support is at 1.1580, breaking below targets of 1.1525.

 

Indicator (1-hour chart)

 

Directional movement index – Neutral

 

It is good to sell on rallies around 1.1660-625 with SL around 1.17010 for a TP of 1.1525.

 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.