Ichimoku Analysis (1-hour chart)
Tenken-Sen- 1.09393
Kijun-Sen- 1.09363
EURUSD hits day's low after a minor jump till 1.09643. The overall trend is still weak as long as resistance 1.1040 holds. The spread of coronavirus is nearing 1 million with more than 1 lakh in Italy, Spain and crossed 2lakh in the U.S.This has increased demand for safe-haven assets like the US dollar.
Technically, immediate support is at 1.09000 and any violation below will drag the pair down till 1.08600/1.0835/1.0800.
On the higher side, near term resistance is around 1.0965 (200- H EMA) and indicative break above targets 1.100/1.1040.
It is good to sell on rallies around 1.0965-68 with SL around 1.100 for the TP of 1.0880.
