Ichimoku Analysis (4-hour chart)
Tenken-Sen- 1.1485
Kijun-Sen- 1.14589
EURUSD continues to trade higher and hits 18 months high on broad-based US dollar selling and EU fund. The European leaders have agreed to a 750 billion euro recovery fund. The upbeat risk appetite is also supporting the euro to hold above 1.1500 levels. Market's eyes ECB President Christine Lagarde and Luis De Guindos speech for further direction. It hits a high of 1.15472 and is currently trading around 1.15236.
The pair has broken significant resistance 1.1500 after forming a minor bottom 1.06378. This confirms bullish continuation, a jump till1.1620 is possible. The near term support is around 1.1500, violation below will take the EURUSD till 1.1450/1.1420/1.13595.
It is good to buy on dips around 1.1500 with SL around 1.1450 for the TP of 1.1620.
