Ichimoku Analysis (4- hour chart)
Tenken-Sen- 1.07334
Kijun-Sen- 1.09085
EURUSD has once again declined sharply after showing a jump till 1.08277. The pair has previously jumped till 1.08307. It has formed almost a double top. US Fed announces new measures such as unlimited QE to support the U.S economy. The central bank said that it would buy an unlimited amount of government debt and corporate and municipal bonds. US stocks ignored QE steps taken by the Fed and lost more than 3.5%.
Technically, near term support 1.0660 and any violation below will drag the pair down till 1.0620/1.0550.
On the higher side, immediate resistance is around 1.0840 and the violation above will take the pair to the next level till 1.0900/1.09250.
It is good to sell on rallies around 1.0780-85 with SL around 1.0840 for the TP of 1.0660.
