Ichimoku Analysis (4-hour chart)
Tenken-Sen- 100.20
Kijun-Sen- 100.06
US Dollar index has broken major resistance 100.50 after a long consolidation. Short term trend is still bullish as long as support 99.95 holds. The spread of coronavirus has increased demand for Safe-haven assets like the dollar, gold.
On the flipside, near-term support is around 99.90, and any violation below targets 99.54/99.30. Major bearishness only if it breaks 98.80.
The immediate resistance is around 100.95, an indicative break above will take the index till 101.20/101.85.
It is good to buy on dips around 100.40-45 with SL around 100 for TP of 101.85.
