Ichimoku Analysis (4-hour chart)
Tenken-Sen- 95.07
Kijun-Sen- 95.52
US dollar index is trading weak for 4th consecutive day on Coronavirus vaccine optimism. The increase in risk appetite is putting pressure on safe-haven assets like the US dollar. The number of people filed for unemployment benefits rose to 1.42 million in the week ended Jul 18th from 109000, U.S CB leading index came at 2.0% vs forecast of 2.1%. It hits an intraday low of 94.59 and is currently trading around 94.62.
The index breaks strong support at 94.65 (Mar 9th, 2020) and it confirms significant trend continuation. A dip till 94/93.80/93.20. The near –term resistance 95.20, any violation above targets 95.40/95.90.
It is good to sell on rallies around 94.75-80 with SL around 95.21 for the TP of 93.80
