FxWirePro: Buy EURUSD on dips
Ichimoku Analysis (4-hour chart)
Tenken-Sen- 1.17182
Kijun-Sen- 1.17199
EURUSD jumped from a low of 1.16848 on US fresh stimulus hopes. US economy has added 749K jobs in Sep compared to a forecast of 650K. US pending sales rose 8.8% in August vs estimate of 3.1%. The pair surged till 1.17550 and is currently trading around 1.17138.
The 1-hour chart shows that the pair is struggling to break below 100 MA, any indicative violation below targets 1.1600.
On the higher side, strong resistance is at 1.1760, and a surge past this level confirms targets 1.1800/1.18250.
It is good to buy on dips around 1.1700 with SL around 1.16750 for the TP of 1.18250.
