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FxWirePro- EURUSD Daily Outlook

Ichimoku analysis (60 min chart)

 

Tenken-Sen- 1.21577   

 

Kijun-Sen- 1.21079

 

EURUSD recovered slightly after dovish comments from Fed Chairman Powell.  He stated that the central bank will continue to provide keep Quantitative easing until maximum employment and inflation target 2% met. -month high on more stimulus hopes which will increase inflation. DXY is trading weak, any violation below 89.90 confirms further weakness. The index of consumer confidence rose to a 3-month high at 91.3 in Feb better than the forecast of 90.

EURUSD hits an Intraday high of 1.21747 and is currently trading around 1.21630.

 

Technical:

 

The pair is facing strong support at 1.21150. Any break below confirms minor bearishness, a jump till 1.2090/1.2060/1.2020 likely. The near-term resistance is around 1.2180. Breach below will drag the pair up till 1.2200/1.2260.

 

Indicator (60 min chart)

 

CAM indicator – bullish

 

Directional movement index – bullish

 

It is good to sell on rallies around 1.2105-60 with SL around 1.2170 for the  TP of 1.2000.  

 

 

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