Ichimoku Analysis (1-hour chart)
Tenken-Sen- 1.18794
Kijun-Sen- 1.19281
EURUSD has shown a minor recovery after weak US ADP data. US economy has added 428000 jobs in Aug compared to a forecast of 1250K. But the US ISM manufacturing index came at 56 at Aug highest level in 7 months. The pair hits an intraday low of 1.18454 and is currently trading around 1.18537.
The hourly chart shows that the pair is trading slightly below 200 MA at 1.18578 and any close below targets 1.1800/1.1760/1.16900.
On the higher side, strong resistance is at 1.19250, and the break below will take the pair to the next level till 1.1965/1.1200.
It is good to sell on rallies around 1. with SL around 1.1700 for the TP of 1.1920.
