Ichimoku Analysis (Daily chart)
Tenken-Sen- 1.14916
Kijun-Sen- 1.14132
EURUSD continues to trade higher and holding above the 12-year trend line 1.17200 level. The increase in the total number of coronavirus cases in Florida and other parts of the U.S has decreased hopes of V-shaped economic recovery. The decline in US-10 year yield also supporting Euro at lower levels. Markets eye US durable goods orders for further direction. It hits an intraday high of 1.17338 and is currently trading around 1.17244.
The pair has broken 12- year trend line resistance 1.17200 and it confirms follow-through buying, a jump till 1.1800/1.18250 likely. The near term support is around 1.16800, violation below will take the EURUSD till 1.1640/1.1600.
It is good to buy on dips around 1.17150-180 with SL around 1.1660 for the TP of 1.1820.
