Ichimoku analysis (Hourly chart)
Tenken-Sen- 1.18685
Kijun-Sen- 1.18262
EURUSD is trading higher on hops of the COVID-19 vaccine. Pfizer and BioNtech have released data of the Phase 3 trial which was more than 90% effective. Markets eye US housing starts and building permits data further direction. The number of hospitalization in the US hit a record high at 78000. Short term trend of the pair is bullish as long as support 1.1800 holds.
Technical:
EURUSD is facing strong psychological resistance at 1.1900; any violation above 1.19250 confirms the bullish continuation. A jump till 1.1965/1.200. On the lower side, near term intraday support is around 1.1840 and any indicative break below that level will take till 1.1800/1.1760.
It is good to buy on dips around 1.18750-780 with SL around 1.1820 for the TP of 1.2000.
