Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro- EURUSD Daily Outlook

Ichimoku analysis (4-hour chart)

 

 Tenken-Sen- 1.09817

 

 Kijun-Sen- 1.09267

 

EURUSD surged higher on board-based US dollar selling. The decline in US consumer inflation expectations falls to 3.8%.Markets eye German ZEW consumer sentiment for further direction. It hits a high of  1.10220 and is currently trading around 1.10149.

 

 

According to the CME Fed watch tool, the probability of a 25 bpbs rate hike in July increased to 94.90% from 86.80% a week ago.

 

 The US 10-year yield pared some of its gains despite hawkish comments from fed officials.  The  US 10 and 2-year spread narrowed to -86.80% from -110%.

 

The pair trades above short-term 21 EMA,  55 EMA, and long-term (200-EMA) in the 4-hour chart.  Any indicative break above 1.1030 confirms intraday bullishness; a jump to 1.1100 is possible. The near-term support is around 1.0960. The breach below targets 1.0900/1.0865/1.0830/1.0800.

 

   Indicator (4-hour chart)

 

   CCI – Bullish

 

  Directional movement index – Bullish

 

It is good to buy on dip around 1.100 with SL around 1.0960 for a TP of 1.110.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  • Market Data
Close

Welcome to EconoTimes

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