FxWirePro: EURUSD trades flat on thin liquidity, good to sell on rallies
Candlestick pattern-Shooting star
Ichimoku Analysis (Daily chart)
EURUSD showed a minor recovery above 1.0900 on upbeat German IFO data. It came at 79.5 in May better than the estimate of 78.3 vs 74.2 April month. The pair hits an intraday high of 1.09145 and is currently trading around 1.08928. But renewed US-Sino trade tensions and spread of coronavirus are supporting Safe-haven assets like US dollar and yen.
The near term support is at 1.08679 (21-day MA), any break below will drag the pair down till 1.0800/1.0760.
On the higher side, immediate resistance is around 1.09250 will take the pair to next level 1.0960/1.100. Bullish continuation only above 1.1020.
It is good to sell on rallies around 1.0908-10 with SL around 1.0960 for the TP of 1.0800.