Ichimoku Analysis (4- hour chart)
Tenken-Sen- 1.08585
Kijun-Sen- 1.08941
EURUSD is trading in a narrow range between 1.07680 and 1.09909 for the past 2-weeks. The reports show that North Korea's leader Kim Jon nhealth is in grave danger after surgery and the oil crash is supporting the US dollar as Safe-haven demand increases. It hits an intraday low of 1.08166 and is currently trading around 1.08480.
On the flip side, near term support is around 1.0790 and any violation below will drag the pair to the next level till 1.0760. Any break below 1.0760 confirms bearish continuation.
The immediate resistance is at 1.0900 and indicative violation above targets 1.09250/1.09680. Major trend reversal if it crosses 1.100.
It is good to sell on rallies around 1.08580-60 with SL around 1.0900 for the TP of 1.07680.
