Ichimoku analysis (4-hour chart)
Tenken-Sen- 1.09060
Kijun-Sen- 1.09245
EURUSD declined slightly on the strong US dollar. The dollar index gained momentum after hawkish Fed bets and renewed US-China tension. Markets eye US FOMC meeting minutes this week for further direction. Most of the European markets are closed on the occasion of Easter Monday. It hits an intraday high of 1.09172 and is currently trading around 1.09140.
The economy has added 236000 jobs in March, compared to expectations of 228000. The unemployment rate dropped to 3.5% from 3.6% in February.
The pair trades below short-term 21 EMA, above 55 EMA, and long-term (200-EMA) in the 4-hour chart. Any indicative break above 1.0930 confirms intraday bullishness, a jump to 1.100/1.1035 is possible. The near-term support is around 1.0870. The breach below targets 1.07790/1.07250.
Indicator (4-hour chart)
CCI – Bullish
Directional movement index – neutral
It is good to buy on dips around 1.0870 with SL around 1.0820 for a TP of 1.100.
