Ichimoku analysis (1-Hour chart)
Tenken-Sen- 1.17963
Kijun-Sen- 1.17866
EURUSD is trading near its daily lows after the dovish ECB policy. The central bank has kept its rates unchanged as expected. It has allowed inflation to temporarily overshoot and revised its forward guidance on interest rates. The number of people who have filed for jobless benefits surged to 419k for the week ended July 16th compared to a forecast of 350K. The pair hits an intraday low of 1.17708 and is currently trading around 1.17630.
Technical:
On the higher side, near-term resistance is around 1.1835 and any convincing breach above will take to the next level 1.1880/1.19070/1.19655/1.200. The pair's near-term support is at 1.1750, break below targets 1.1700/1.1660.
Indicator (1-hour chart)
CAM indicator-Neutral
Directional movement index – Neutral
It is good to sell on rallies around 1.1820 with SL around 1.1865 for the TP of 1.1700.
