FxWirePro- EURUSD Daily Outlook

Ichimoku analysis (4-hour chart)
 
 Tenken-Sen- 1.07324
 
 Kijun-Sen- 1.07268
 
EURUSD trading flat ahead of German ZEW economic sentiment. It hit a high of 1.07679 at the time of writing and currently trading around 1.07370. The pair was one of the worst performers in the past two months in hopes of a further 25 bpbs rate hike this year.

According to the CME Fed watch tool, the probability of a no-rate hike in Sep decreased to 93% from 94% a week ago.
 
 The US 10-year yield trades flat after a minor pullback of more than 2%. The US 10 and 2-year spread narrowed to -69.4% from -74.5%.
 
 
The pair trades above short-term 21 EMA,  below  55 EMA, and long-term (200-EMA) in the 4-hour chart.  Any break below 1.0660 confirms further bearishness. A decline to 1.0600/1.0500  is possible. The near-term resistance is around 1.0770, any breach above targets is 1.0800/1.0880.
 
   Indicator (4-hour chart)
 
   CCI – Bearish
 
  Directional movement index – Bullish
 
It is good to sell on rallies around 1.0765-68 with SL around 1.0820 for a TP of 1.0600.