FxWirePro: EUR/JPY extends bounce off 110-EMA support, single currency keeps positive momentum for the 2nd straight session
FxWirePro: DXY Daily Outlook
Ichimoku Analysis (1-hour chart)
US Dollar index has shown a minor decline from a high of 94.74. The intraday trend is till neutral as long as support 94.30 holds. The better than expected US existing home sales and durable goods order is supporting the US dollar index at lower levels. The jump in the US dollar index from the temporary bottom 91.75 mainly due to US election uncertainties and jump in the number of new COVID cases in Europe and the UK. It hits an intraday low of 94.38 and is currently trading around 94.38.
On the flipside, near-term support is around 94.30, any violation below targets 93.80/93.40/93/92.66. Significant bearishness only if it breaks below 91.55.
The index is strong resistance at 94.75, an indicative break beyond will take the index till 95.70/96.05.
It is good to buy on dips around 9 with SL around 94 for TP of 91.52.