FxWirePro: EURUSD Daily Outlook
Ichimoku Analysis (4-hour chart)
Tenken-Sen- 1.18625
Kijun-Sen- 1.18353
EURUSD has lost more than 50 pips after upbeat US inflation data. US CPI m-o-m came in at 0.4% in Aug vs forecast of 0.2%, while Core CPI at 1.7% YOY after rising 1.6% in July. The pair performed well yesterday after a hawkish ECB policy statement and hits high of 1.19177. The pair hits an intraday high of 1.18278 and is currently trading around 1.18363.
The 4-hour chart shows that the pair is trading slightly above 100 and 200 MA at 1.18275 and any break above 1.18750 targets 1.19250/1.2000.
On the lower side, strong support is at 1.1825, and the break below will take the pair to the next level till 1.1780/1.1750.
It is good to buy on dips around 1.18225-50 with SL around 1.1780 for the TP of 1.1925.
