FxWirePro- EURUSD Daily Outlook
Ichimoku analysis (4-hour chart)
Tenken-Sen- 1.08742
Kijun-Sen- 1.09004
EURUSD showed a minor pullback on easing US treasury yields. Markets eyes Eurozone Sentix Investor confidence, retail sales, and FOMC member Harker for further movement. It hits an intraday high of 1.09044 and is currently trading around 1.0935.
According to the CME Fed watch tool, the probability of a 25 bpbs rate hike in May increased to 70.5% from 57.2% a week ago.
The US 10-year yield showed a minor pullback ahead of the FOMC meeting minutes. The US 10 and 2-year spread narrowed to -57.3% from -108%.
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 – Neutral
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.


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