Ichimoku Analysis (4 Hour chart)
Tenken-Sen- 1.1095
Kijun-Sen- 1.11039
EURUSD recovered sharply after forming bottom around 1.10663 on broad-based US dollar selling. The easing of US-China trade tension is supporting the euro at lower levels. It hits an intraday high of 1.1414 and is currently trading around 1.11349.
US bond yield has halted its 4-month bullishness and lost more than 3% after hitting a high of 1.949%. The spread between US 10 and 2-year yield has widened to 26 bps from 12 bps.
The near-term resistance is around 1.1150, any violation above will take the pair to the next level till 1.1180/1.1200/1.1245.
On the flip side, support is at 1.10650 and any break below will drag the 1.1035/1.1000.
It is good to buy on dips around 1.11280-30 with SL around 1.1100 for the TP of 1.1200/1.1245.
