Ichimoku Analysis (Hourly chart)
Tenken-Sen- 1.0961
Kijun-Sen- 1.09222
EURUSD is trading weak and hits multi-month low on broad-based US dollar buying. Fed Chairman Powell stated that the current policy is appropriate, the coronavirus will affect the global economy. The pair hits low of 1.08915 and is currently trading around 1.09164.
Technically, near term resistance is around 1.09200 and any indicative break beyond will take the pair to next level 1.09695/1.1000. Primary trend reversal only above 1.1100.
On the flip side, significant support stands at 1.0880 and violation beneath targets 1.0835/1.0800.
It is good to buy above 1.09200 with SL around 1.0880 for the TP of 1.1000.
