Ichimoku Analysis (4-Hour chart)
Tenken-Sen- 1.18971
Kijun-Sen- 1.18060
EURUSD has declined slightly after upbeat US jobless claims data. The number of people filed for unemployment benefits declined to 963K compared to an estimate of 1120K and continuing claims at 15.5 million for the week ended Aug. The US 10-year bond yield shown a good recovery from today's low of 0.65%. The pair hits a high of 1.18641 and is currently trading around 1.18203.
The 4-hour chart shows that the pair is holding above 100 and 200 MA. Any break above 1.18650 confirms intraday bullishness, a jump till 1.19200 is possible.
On the lower side, strong support is at 1.1800, and the break below will drag the pair down till 1.17750/1.17200/1.1675.
It is good to buy on dips around 1.18000 with SL around 1.1760 for the TP of 1.19200.
