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FxWirePro- Major European Indices 
Ichimoku analysis (4-hour chart)
Tenken-Sen- 1.10073
Kijun-Sen- 1.10169
EURUSD showed a nice pullback despite upbeat US Non-farm payroll data. The US economy added 253000 non-farm payrolls in Apr, well above the estimated 181000. The unemployment rate dropped to 3.40%, the lowest level since May 1969. The pair hits an intraday high of 1.10534 and currently trading around 1.10477.
Major economic data this week
May 10th, 2023 US CPI m/m (12:30 pm GMT)
May 11th, 2023 BOE Monetary policy (11 am GMT)
US PPI (12:30 pm GMT)
Unemployment benefits (12:30 pm)
May 12th, 2023, Prelim UoM Consumer Sentiment (2 pm GMT)
According to the CME Fed watch tool, the probability of a no-rate hike in June increased to 90.40% from 64.6% a week ago.
The US 10-year yield jumped more than 5% despite strong US nonfarm payroll. The US 10 and 2-year spread narrowed to -50% 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 1.1070 confirms intraday bullishness; a jump to 1.110/1.1165 is possible. The near-term support is around 1.100. The breach below targets 1.0960/1.0930.
Indicator (4-hour chart)
CCI – Bullish
Directional movement index – neutral
It is good to buy on dips around 1.100 with SL around 1.0950 for a TP of 1.1100.
