Ichimoku analysis (Hourly chart)
Tenken-Sen- 1.10253
Kijun-Sen- 1.10230
EURUSD has halted its 2-week of bearishness and shown a minor recovery of more than 40 pips. Markets eyes coronavirus outbreak developments for further movement. Thailand and the UK confirm the first coronavirus and the total number of confirmed cases in Thailand is at 19. It hits a high of 1.0394 and is currently trading around 1.10247.
German bund yield hits 3 months at -0.41% and US 3-month and 10-year has once again inverted slightly by 0.2 bps.
The immediate resistance is around 1.10350, any violation above targets 1.1100/1.1140. On the flip side, near-term support stands at 1.0980 and indicative break below will drag the pair down till 1.0930/1.0880.
It is good to buy above 1.10350 with SL around 1.1000 for the TP of 1.1125.
