Ichimoku analysis (1-Hour chart)
Tenken-Sen- 1.21446
Kijun-Sen- 1.21446
EURUSD gained sharply above 1.2150 levels after weak US Nonfarm payrolls data. US economy has added 559000 jobs in May much less forecast of 645K. The unemployment rate declined to 5.8% from the previous month to 6.1%. DXY lost more than 50 pips after the data. Any breach below 90 confirms further weakness. The US 10-year yield lost more than 4% from an intraday high of 1.635%. EURUSD hits an intraday high of 1.21817 and is currently trading around 1.21678.
Technical:
On the higher side, near-term resistance is around 1.2220, and any convincing breach above will take the pair to next level 1.2260/1.2300/1.23485. The pair's near-term support is around 1.2100, violation below that level targets 1.20380 (100- day MA)/1.1980.
Indicator (1-hour chart)
RSI- Bullish
Directional movement index –Neutral
It is good to sell on rallies around 1.2178-80 with SL around 1.2220 for the TP of 1.2050.
