Ichimoku analysis (4-hour chart)
Tenken-Sen- 1.13426
Kijun-Sen- 1.13638
EURUSD has halted its minor pullback from a 16-month low of 1.12634. The slight jump in US treasury yield is supporting the US dollar at lower levels. The number of people who have filed for unemployment benefits for the week ended dropped by 1000 to 268000 previous weeks compared to forecast of 260000. US Philly fed manufacturing index rose to 39 in November vs. an estimate of 23. Markets eye US Fed speakers and ECB Lagarde's speech for further direction. EURUSD hits an intraday low of 1.13367 and is currently trading around 1.13420.
Technical:
On the higher side, near-term resistance is around 1.1380 and any convincing breach above will drag the pair to the next level 1.14590/1.14845/1.1530. The pair's immediate support is at 1.1 breaking below targets of 1.1250/1.1200/1.1160.
Indicator (4-hour chart)
Directional movement index –Neutral
It is good to sell on rallies around 1.1378-80 with SL around 1.1425 for a TP of 1.1260.
