FxWirePro- EURUSD Daily Outlook

Ichimoku analysis (4-hour chart)

 Tenken-Sen- 1.08043

 Kijun-Sen- 1.08168

EURUSD showed a minor jump after the upbeat German IFO. It improves to 93.3 in Mar compared to a forecast of 90.90. It hits an intraday low of 1.07447 and is currently trading around 1.07673.

US durable goods orders m/m declined by -1% in Feb, below the estimate of 0.40%.

 According to the CME Fed watch tool, the probability of a no-rate hike in Mar increased to 81.8% from 48.5% a week ago.

 The US 10-year yield pared most of its gains after forming a minor top of 3.64%. The US 10 and 2-year spread widened to -26.90% from --45.90%.

The pair trades above short-term 21 EMA, 55 EMA, and long-term (200-EMA) in the 4-hour chart.  Any close below 1.0700 confirms intraday bearishness, a dip to 1.0660/1.0600  is possible. The near-term resistance is around 1.0800. The breach above targets 1.0865/1.0900.

  Indicator (4-hour chart)

  CCI – Bullish

  Directional movement index – neutral

It is good to buy on dips around 1.0700 with SL around 1.0660 for a TP of 1.0800.