Ichimoku Analysis (1-hour chart)
Tenken-Sen- 1.12850
Kijun-Sen- 1.12869
EURUSD continues to trade lower for 3rd consecutive day on broad-based US dollar buying. The steps taken by the US central bank to boost the economy are supporting the US dollar. The Fed has expanded its Main Street loan and lowered the minimum loan size to $250000. It also extended loan term to 5 years. It hits an intraday low of 1.12410 and is currently trading around 1.12645.
On the higher side, immediate resistance is around 1.1320 will take the pair to next level 1.1385/1.1400/1.1435. Significant trend continuation only above 1.1500. The near term support stands at 1.12300 (23.6% fib), violation below targets 1.1200 (200-H MA/1.1150.
It is good to sell on rallies around 1.1280-825 with SL around 1.1325 for the TP of 1.1150.
