FxWirePro: EUR/USD Triple Bottom Pattern Intensifies Renewed Bullishness, Major Downtrend Still Intact – Trading & Hedging Setup
FxWirePro: EURUSD upside by 200- day MA, good to sell on rallies
Ichimoku Analysis (Daily outlook)
EURUSD has halted its 4-day of winning streak and lost more than 80 pips from high 1.10868. The spread of coronavirus in the Eurozone especially Italy, Spain with the total number of infected to 80589 and 57786 respectively. The increase in Safe-haven demand is supporting the US Dollar. It hits low of 1.10085 and is currently trading around 1.10283.
On the flip side, near-term support is around 1.1000 and the break beneath will drag the pair to the next level till 1.0970/1.09130/1.08597.
The immediate resistance is around 1.1060, any violation beyond will take the pair to the next level till 1.10860/1.11250.
It is good to sell on rallies around 1.1045-48 with SL around 1.10860 for the TP of 1.0935.