Ichimoku analysis (4-hourly chart)
Tenken-Sen- 1.22065
Kijun-Sen- 1.22012
EURUSD is trading above 1.2150 levels amid USCOVID-19 stimulus uncertainty. US President Trump said that the recently passed stimulus bill was a "disgrace' on Tuesday night. He has urged Congress to increase stimulus payments from $600 to $2000. US Final GDP QoQ rebounded at a 33.4% annualized rate compared to an estimate of 33%. The conference board consumer confidence came at 88.6 vs forecast of 97.1. DXY declined more than 30 pips from a minor top 90.71 made yesterday. Short term trend of EURUSD is bullish as long as support 1.2130 holds. Markets US jobless claims, personal spending, and durable goods data for further direction.
Technical:
EURUSD has jumped after hitting a low of 1.21524. Any violation below 1.2130 targets 1.2110/1.20586/1.2020.On the higher side, near-term resistance at 1.2200. Any violation above will take till 1.2267/1.22600/1.22750 is possible.
It is good to buy on dips around 1.2158-60 with SL around 1.2130 for the TP of 1.22725.
