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FxWirePro- EURUSD Daily outlook

Ichimoku analysis (4-hour chart)

              

 Tenken-Sen- 1.08924

 

 Kijun-Sen- 1.08874

 

EURUSD faces bearish pressure on hawkish Fed comments. The board-based US Dollar buying due to surge in US treasury yield.  The 10-year yield jumped and hits the highest level in 3 years. Markets eye US CPI data for further direction. German ZEW sentiment index dropped to -41.40 in Apr vs. an estimate of -48. EURUSD hits an intraday low of 1.08532 and is currently trading around 1.08710.

 

Technical:

On the higher side, near-term resistance is around 1.0950 and any convincing breach above will drag the pair to the next level 1.100/1.1050.

The pair's immediate support is at 1.0800, breaking below targets of 1.0730/1.0600.

 

Indicator (4-hour chart)

 

Directional movement index – Neutral

 

It is good to sell on rallies around 1.090 with SL around 1.0950 for a TP of 1.0800.

 

 

 

 

 

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