FxWirePro- EURUSD Daily Outlook

EURUSD trades above 1.1300 on board-based US dollar selling. It hits a high of 1.11333 at the time of writing and is currently trading around 1.11322.

Markets anticipate a 50 bpbs rate cut by Fed this Wednesday.  

The pair trades above short-term (34 AND 55 EMA) in a 4-hour chart.  Major resistance to watch- 1.11554/1.1168/1.1200. Bullish continuation only above 1.12050.

Major support- 1.1100,1.1060/1.100/1.09880.

Indicators ( 4- hour chart)

Directional movement index  -Bullish

CCI (50)- Bullish

CCI(14)- Bullish

It is good to buy on dips around 1.1065 with SL around 1.1060 for a TP of 1.11500.