Ichimoku Analysis (4-hour chart)
Tenken-Sen- 1.08020
Kijun-Sen- 1.09036
EURUSD trades higher and jumped more than 100 pips from a low of 1.07683 on a positive market mood. The number of new cases due to coronavirus got decreased in major countries like Italy, Spain and New York which shows that it has reached its peak. The demand for riskier assets has pushed Euro well above 1.08500 levels.
On the flipside, near term support is around 1.0800 and any violation below targets 1.0770/1.0750. The immediate resistance is around 1.0880 and the indicative break above will take the pair till 1.0925/1.09650.
It is good to buy on dips around 1.08500 with SL around 1.0800 for the TP of 1.09650.
