Ichimoku Analysis (4-hour chart)
Tenken-Sen- 97.40
Kijun-Sen- 97.03
US Dollar index jumped more than 50 pips from a low of 97.03 due to an increase in demand for Safe-haven assets. The number of new cases in Florida rose by 5266 to a total of 146341. The average number in Texas surged to more than 5000 compared to 2000 in the past few weeks. It hits a high of 97.58 and is currently trading around 97.54.
On the flipside, near-term support is around 97, any violation below targets 96.40. Significant bearishness only if it breaks 96.40.
The index is trading well below 200 4-H MA at 98, an indicative close above will take the index till 98.60/99. Any breaks above 100 confirm the bearish reversal, jump till 100.87/101.20 likely.
It is good to buy on dips around 97.40 with SL around 97 for TP of 99/100.
