Ichimoku Analysis (Hourly chart)
Tenken-Sen- 1.09423
Kijun-Sen- 1.09715
EURUSD continues to trade lower after a minor jump above 1.000 level. The Safe-haven demand increased on tensions between the US-China over the coronavirus. US President Trump has threatened to impose tariffs on China. The pair declined till 1.09257 and is currently trading around 1.09351.
On the flip side, near term support is at 1.09200 and any violation below will drag the pair down till 1.0900/1.0850 (200-H MA).
The immediate resistance is around 1.0950 and any violation above will take the pair till 1.100/1.0350/1.0480. Any bullish continuation only above 1.0500.
It is good to sell on rallies around 1.09680-70 with SL around 1.1020 for the TP of 1.0850..
