Ichimoku Analysis (hourly chart)
Tenken-Sen- 1.08158
Kijun-Sen- 1.08384
EUR USD continues to trade lower for 2nd consecutive week and lost more than 800 pips. It hits lowest levels since Apr 2017 at 1.06730 and is currently trading around 1.106901. The pair showed a minor recovery till 1.0981 after ECB announced a €750 billion "pandemic emergency purchase program". The increase of Safe-haven demand due to coronavirus is supporting the US dollar.
Technically, EURUSD is facing strong resistance at 1.0840 and any violation of high targets 1.0900/1.0980. The minor support is around 1.07465/1.0800.
On the flip side, near-term support is 1.06700 and the indicative break underneath will drag the pair till 1.0600/1.0500.
It is good to sell on rallies around 1.0748-50 with SL around 1.0800 for the TP of 1.0600.