EURUSD daily Outlook 21 February
Ichimoku analysis ( 4 - hour chart ) Tenken - Sen - 1.06823 Kijun - Sen- 1.06786 EURUSD showed a minor sell - off on risk aversion . Markets eye Euro and German flash services Manufacturing PMI , German ZEW sentiment for further movement . Any upbeat ZEW sentiment will push Euro higher above 1.0700 . Euro was one of the worst performers this month due to hawkish comments from fed officials . It hits a low of 1.0660 . According to the CME Fed watch tool , the probability of a 50 bpbs rate hike in Mar jumped to 18.10 % from 9.2 % a week ago . The US 10 - year yield trades flat after hitting a multi week high . The US 10 and 2 - year spread narrowed to -80 basis points from -88 % bpbs .
Technical Analysis : The pair is trading above short - term 21 EMA , below 55 EMA , and long - term ( 200 - EMA ) in the 4 - hour chart . Any break above 1.07350 confirms intraday bullishness ; a jump to 1.0760 / 1.0800 is possible . The near - term support is around 1.0660 . The breach below will drag the pair to 1.0600 / 1.0525 . Indicator ( 4 - hour chart ) CCI - Bearish Directional movement index - Neutral It is good to sell on rallies around 1.0738-40 with SL around 1.0800 for a TP of 1.06000 .
Technical Analysis : The pair is trading above short - term 21 EMA , below 55 EMA , and long - term ( 200 - EMA ) in the 4 - hour chart . Any break above 1.07350 confirms intraday bullishness ; a jump to 1.0760 / 1.0800 is possible . The near - term support is around 1.0660 . The breach below will drag the pair to 1.0600 / 1.0525 . Indicator ( 4 - hour chart ) CCI - Bearish Directional movement index - Neutral It is good to sell on rallies around 1.0738-40 with SL around 1.0800 for a TP of 1.06000 .
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