Ichimoku analysis (Daily chart)
Tenken-Sen- 1.19592
Kijun-Sen- 1.18605
EURUSD continues to trade higher and hits 32–month high on broad-based US dollar selling. UK and Russia are planning to start the COVID-19 vaccine by next week. The number of private sector jobs added by 307K in November vs forecast of 410K. Markets eye US ISM services PMI for further direction.DXY is trading below the 91 level; A dip till 90 likely. Short term trend of EURUSD is bullish as long as support 1.2000 holds.
Technical:
EURUSD is trading slightly above significant resistance 1.2100; any convincing break above 1.2140 confirms the bullish continuation. A jump till 1.2210/1.2253 possible. On the lower side, near term intraday support is around 1.2080 and any indicative break below that level will take till 1.2045/1.2000.
It is good to buy on dips around 1.2080 with SL around 1.2040 for the TP of 1.2200.
