Ichimoku Analysis (1-hour chart)
Tenken-Sen- 92.95
Kijun-Sen- 93.01
US Dollar index continues to trade weak after a minor jump till 93.12. The delay in the US fiscal stimulus package in the US is putting pressure on the US dollar index at higher levels. The total number of corona cases in the US nearing 6 million with new 35000 cases on Sunday. The total deaths are at 173128 in the United States, more than 20% of global corona death. It hits an intraday low of 92.79 and is currently trading around 92.82.
On the flipside, near-term support is around 92.66, any violation below targets 92.52/92. Significant bearishness only if it breaks below 91.55.
The index is struggling to close above 200- H MA at 93.226, an indicative close above will take the index till 93.50/94. Any breaks above 94 confirm the bearish reversal, jump till 94.85 likely.
It is good to sell on rallies around 92.95-93 with SL around 93.60 for TP of 91.52.
