Ichimoku Analysis (4-hour chart)
Tenken-Sen- 1.17638
Kijun-Sen- 1.17460
EURUSD declined till 1.17655 after ECB President Lagarde said that the Second wave of Coronavirus might delay economic recovery in Europe. The slight optimism in US fiscal stimulus and discharge of Donald Trump has increased positive sentiment in global markets. The pair surged till 1.18077 and is currently trading around 1.17850.
The 4-hour chart shows that the pair is struggling to close above 1.1800 (200-4H MA). Any indicative violation above targets 1.18700/1.1900.
On the lower side, strong support is at 1.17570, and violation past this level will drag the pair down till 1.16900/1.1660.
It is good to buy on dips around 1.1760 with SL around 1.1720 for the TP of 1.1870.
