FxWirePro: EUR/CHF hits 5-week lows below 1.10 handle, breach at cloud support to drive further weakness
FxWirePro: EUR/GBP consolidates above 55-EMA, upbeat German Industrial Production data likely to support further gains
FxWirePro- EURUSD Daily outlook
Ichimoku analysis (4 Hour chart)
EURUSD declined once again after a minor recovery till 1.19433 after better than expected US non-farm payroll data. It came at 379k in Feb much above expectations of 148k. The unemployment rate declined to 6.2% vs an estimate of 6.3%. Average hourly earnings came in line with an estimate at 0.2% The US bond yield jumped to 1.62% after positive jobs data. DXY gained above 92 and hovering near that level. EURUSD hits an Intraday low of 1.18933 and is currently trading around 1.19179.
The pair is facing strong support at 1.18800. Any break below confirms minor bearishness, a dip till 1.1860/1.1800/1.17800 likely. The near-term resistance is around 1.1950 (support turned into resistance). The indicative breach above will take the pair to next level till 1.2000/1.20350.
Indicator (4 Hour chart)
CAM indicator – Bearish
Directional movement index – Bearish
It is good to sell on rallies around 1.1967-70 with SL around 1.2000 for the TP of 1.1880.