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FxWirePro- EURUSD Daily outlook

Ichimoku analysis (4-Hour chart)

               

 Tenken-Sen- 1.18170

 

 Kijun-Sen- 1.18381

 

EURUSD declined sharply after upbeat US Non-farm payroll data. The US economy has added 943000 jobs in Jul compared to an estimated 870000. While unemployment came at 5.4% vs the forecast 5.7%.The average hourly earnings jumped to 0.4% above the forecast of 0.3%. The pair hits an intraday low of 1.17813              and is currently trading around 1.17901.

 

Technical:

On the higher side, near-term resistance is around 1.1830 and any convincing breach above will take to the next level 1.1865/1.1920. The pair's near-term support is at 1.1780, break below targets 1.1750/1.1700.

 

Indicator (4-hour chart)

 

CAM indicator-Bearish

 

Directional movement index – Bearish

 

It is good to sell on rallies around 1.1788-790 with SL around 1.1835 for the TP of 1.1700.   

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