Candlestick pattern- Shooting star (4-hour chart)
Ichimoku Analysis (Daily chart)
Tenken-Sen- 1.12122
Kijun-Sen- 1.11660
EURUSD is trading below 1.1200 ahead of the ECB policy meeting. The European Central Bank is expected to expand Pandemic Emergency Asset Purchase (PEPP) to 750 billion euros and to downgrade GDP. It hits a low of 1.11946 and is currently trading around 1.12050.
Markets eye ECB policy meeting US initial jobless claims for further direction. Technically, near term support is at 1.1178, any break below will drag the pair down till 1.1150 (resistance turned into support)/1.1100/1.1060.
On the higher side, immediate resistance is around 1.1260 will take the pair to next level 1.12980/1.1335.
It is good to sell on rallies around 1.1228-30 with SL around 1.1270 for the TP of 1.1100.
