Ichimoku Analysis (Hourly chart)
Tenken-Sen- 1.07718
Kijun-Sen- 1.07471
EURUSD has broken major resistance 1.0840 after a long consolidation. The massive QE program and a slight decline in the total number of people infected in Italy are supporting Euro. The Fed is to buy unlimited quantity bonds and it will lend against students and credit card loans. It hits an intraday high of 1.086500 and is currently trading around 1.08317. Markets eye German and Eurozone PMI data for further direction.
Technically, the pair is trading above major resistance at 1.08400 and a jump till 1.0900/1.0925.
On the flip side, immediate support is at 1.0800 and any violation below will drag the pair down till 1.0770/1.0720.
It is good to buy on dips around 1.0828-30 with SL around 1.0800 for the TP of 1.0925.
