Ichimoku analysis (4-hour chart)
Tenken-Sen- 1.15640
Kijun-Sen- 1.15713
EURUSD pared its gains made after dismal US Non-farm payroll. The US economy has added 194000 jobs in Sep less than the forecast of 490K. While the unemployment rate declined to 4.8% from a forecast of 5.1%. The hopes of Fed tapering and surging USA treasury yields also dollar at lower levels. It hits an intraday high of 1.15867 and is currently trading around 1.15578.
Technical:
On the higher side, near-term resistance is around 1.1590 and any convincing breach above will drag the pair to the next level 1.1650/1.17010/1.1760. The pair's immediate support is at 1.1550, break below targets 1.1500/1.1400.
Indicator (4-hour chart)
Directional movement index – neutral
It is good to sell on rallies around 1.15825-50 with SL around 1.1640 for a TP of 1.14580
