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Candlestick pattern- Shooting star (4-hour chart)
Ichimoku Analysis (4-hour chart)
Tenken-Sen- 1.12893
Kijun-Sen- 1.12422
EURUSD has halted its 3-week of winning streak and lost more than 80 pips after positive US jobs data. The US economy has added more than 2.5 million jobs in May, much better than the forecast of -8 million job loss. The unemployment rate declined to 13.7% vs 14.7% and people's labor force participation rose to 60.8% from 60.2%. It hits a low of 1.12861 and is currently trading around 1.1300.
On the higher side, immediate resistance is around 1.1385 will take the pair to next level 1.1435/1.1460/1.14950. Major trend continuation only above 1.1500. The near term support stands at 1.1280, violation below targets 1.1240/1.1900/1.1150.
It is good to sell on rallies around 1.1338-40 with SL around 1.1400 for the TP of 1.1150.
