Ichimoku analysis (4-hour chart)
Tenken-Sen- 1.01654
Kijun-Sen- 1.01770
EURUSD recovered more than 100 pips from a low of 1.00965 after Fed monetary policy. The central bank hiked rates by 75 bpbs for the second consecutive month. "We might do another unusually large increase, but that's not a decision that we've made at all," Powell said Wednesday. The US 10-year yield rebound slightly with the US dollar preventing Euro from breaching 1.0300. Markets eye US GDP data today for direction. It hits an intraday high of 1.02344 and is currently trading around 1.02032.
Technical:
The pair is trading slightly below 200-4H EMA. Any break above 1.0300 confirms minor bullishness, likely a jump till 1.0600/1.0100. The near-term support is around 1.000. The breach below will drag the pair down to 0.9945/0.9900.
Indicator (4-hour chart)
CCI – Bullish
Directional movement index – Neutral
It is good to buy above 1.0300 with SL around 1 for the TP of 1.010.
