Ichimoku Analysis (Hourly chart)
Tenken-Sen- 1.07965
Kijun-Sen- 1.0816
EURUSD trades lower after a minor jump till 1.08164 today despite weak US employment data. The number of people applied for unemployment benefits during the weekend of May 2nd came to 3169000 much worse than the forecast of 3 million. It hits a low of 1.07765 and is currently trading around 1.07832.
The immediate support stands at 1.07600, any violation below will drag the pair down till 1.07270. Any break below 1.0720 confirms bearish continuation, a dip till 1.0650/1.0600.
On the higher side, near term resistance is at 1.08300, and indicative break above targets 1.08710/1.09260.
It is good to sell on rallies around 1.07800-25 with SL around 1.09250 for the TP of 1.0660.
