Ichimoku analysis (1 Hour chart)
Tenken-Sen- 1.17490
Kijun-Sen- 1.17484
EURUSD is holding above the 1.1800 level on the chance of stimulus before the election fades. U.S durable goods orders rose by 1.9% in September compared to forecast by 0.5%. The conference board Consumer confidence came at 100.9 vs an estimate of 102.10. The rise in the number of cases globally has crossed 44m and the death toll crossed 1.1 m. The overall trend of the pair is still neutral as long as resistance 1.1880 holds.
Technical:
In an hourly chart, EURUSD is trading well above the long-term moving average (200 MA) and Tenken-Sen, Kijun-Sen. Any break above 1.18400 will take the pair till 1.1880/1.19250. On the flip side, near term intraday support is around 1.1790 and any indicative break below that level will take the pair till 1.1760/1.1720.
It is good to buy on dips around 1.1800 with SL around 1.1760 for the TP of 1.1900.
