Ichimoku Analysis (1-hour chart)
Tenken-Sen- 1.13097
Kijun-Sen- 1.12986
EURUSD lost more than 60 pips on strong U.S retail sales. The U.S retail sales surged sharply by a record 17.7% in May compared to a forecast of 7.9%, much above the previous month -14.7%. It shows that chance of V-shaped recovery in the U.S after corona is high. It hits an intraday low of 1.12327 and is currently trading around 1.12380.
On the higher side, immediate resistance is around 1.1280 will take the pair to 1.1320/1.1360/1.1400. Significant trend continuation only above 1.1500. The near term support stands at 1.1230, violation below targets 1.1200/1.1150.
It is good to sell on rallies around 1.1258-60 with SL around 1.1320 for the TP of 1.1150.
