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Ichimoku Analysis (4-hour chart)
Tenken-Sen- 1.17325
Kijun-Sen- 1.17174
EURUSD jumped nearly 80 pips from a low of 1.17199 in hopes of Donald Trump's discharge. The positive news about the US fiscal stimulus is also putting pressure on the US dollar index. The pair surged till 1.17975 and is currently trading around 1.17877.
The 4-hour chart shows that the pair is facing strong resistance at 1.18000 (200-4H MA). Any indicative violation above targets 1.18700/1.1900.
On the lower side, strong support is at 1.17570, and violation past this level will drag the pair down till 1.16900/1.1660.
It is good to buy on dips around 1.1760 with SL around 1.1720 for the TP of 1.1870.
