Ichimoku analysis (1 Hour chart)
Tenken-Sen- 1.17156
Kijun-Sen- 1.17296
EURUSD declined sharply as hopes of stimulus before elections fade. The number of people who filed for unemployment benefits rose to 898000 vs forecast of 81000. The latest Philly Fed manufacturing index came at 32.3, rose from 17.3 last month. The overall trend of the pair is still bearish as long as resistance 1.17750 holds.
Technical:
In an hourly chart, EURUSD is trading well below the long-term moving average (200 MA) and Tenken-Sen, Kijun-Sen. Any break above 1.1725 will take the pair till 1.1750/1.17750/1.1800. On the flip side, near term intraday support is around 1.1680 and any indicative break below that level will take the pair till 1.1660/1.1630.
It is good to sell on rallies around 1.1728-30 with SL around 1.1760 for the TP of 1.1600. TP of 1.1600
