Ichimoku Analysis (Hourly chart)
Tenken-Sen- 1.08339
Kijun-Sen- 1.08349
EURUSD trades higher and jumped more than 150 pips from low of 1.07260 on broad-based US dollar selling. Most of the countries are planning for lockdown exit including Italy to reopen factories is putting pressure on Safe-haven assets like Dollar and gold. It hits a high of 1.08854 and is currently trading around 1.08765.
On the flip side, immediate resistance is around 1.09106, and any violation above targets 1.09677/1.1000. Major trend continuation only above 1.1000.
The near-term support is around 1.0800 and any indicative break below will drag the pair till 1.07600/1.07270. The decline from 1.1476 will get completed at 1.07260 only if the pair
breaks 1.1000 levels.
It is good to buy on dips around 1.0838-40 with SL around 1.0800 for the TP of 1.09950.
