Ichimoku Analysis (4-hours chart)
Tenken-Sen- 1.09152
Kijun-Sen- 1.09396
EURUSD showed an excellent recovery of more than 100 pips from yesterday's low of 1.08707 on broad-based US dollar selling. The decline in the number of new coronavirus cases in Germany and Italy and hopes of a new vaccine is supporting Euro at lower levels. The US Company Novavax has started its trial in cities of Melbourne, Brisbane, and results will be out by Jul. the pair hits an intraday high of 1.09725 and is currently trading around 1.09710.
The near term support is at 1.09490, any break below will drag the pair down till 1.09200/1.0900/1.0860/1.0800.
On the higher side, immediate resistance is around 1.1000 will take the pair to next level 1.10250/1.1100/1.11450. Bullish continuation only above 1.1150.
It is good to buy on dips around 1.0938-40 with SL around 1.08995 for the TP of 1.1020.
