FxWirePro- EURUSD Daily Outlook
Ichimoku analysis (4-hour chart)
Tenken-Sen- 1.09505
Kijun-Sen- 1.09925
EURUSD showed a minor pullback after hawkish comments from ECB member Knot. He has said that "not comfortable with current market pricing of terminal rate". It hits an intraday high of 1.09783 and is currently trading around 1.09751.
According to the CME Fed watch tool, the probability of a 25 bpbs rate hike in May increased to 83.4% from 67% a week ago.
The US 10-year yield pared its gains ahead of US economic data. The US 10 and 2-year spread narrowed to -65% from -108%.
The pair trades above short-term 21 EMA, 55 EMA, and long-term (200-EMA) in the 4-hour chart. Any indicative break above 1.100 confirms intraday bullishness, a jump to 1.110/1.1165 is possible. The near-term support is around 1.0930. The breach below targets 1.0900/1.0830.
Indicator (4-hour chart)
CCI – Bullish
Directional movement index – neutral
It is good to buy on dips around 1.0900 with SL around 1.0860 for a TP of 1.1100.


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