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FxWirePro- EURUSD Intraday trade idea

Intraday trend – Bullish

 

Major intraday resistance– 1.140

 

The pair regained above 1.1370 on upbeat market sentiment.  The demand for riskier assets improved on the Biden-Putin summit. Markets eye EZ PMIs for further direction. EURUSD hits an intraday high of 1.13787 and is currently trading around 1.13749. The US 10-year yield declined more than 7.5% after hitting a high of 2.06%.

Technical-

Any breach below 1.1320 confirms intraday bearishness. A dip till 1.1300/1.1230 is possible.

The immediate resistance to be watched is 1.1400; any violation above will take the pair to 1.1435/1.150/ 1.1580/1.1700.

 

Indicators (4-hour)

 

Directional movement index –Neutral

 

CCI (50) – Bearish

 

It is good to buy on dips around 1.1348-50 with SL around 1.1300 for a TP of 1.150.

 

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