Ichimoku analysis (4-hour chart)
Tenken-Sen- 1.22832
Kijun-Sen- 1.22701
EURUSD continues to trade higher and holding above 1.2300 after Democrats won senate after Georgia run-off. The Democrat's win has increased the chance of more stimuli in the coming months. DXY hits fresh year low on upbeat market sentiment. The intraday trend of EURUSD is bullish as long as support 1.2270 holds.
Technical:
On the higher side, near-term resistance at 1.2360. Any indicative violation above targets 1.242/1.2480 likely. The near term support is around 1.227. Any break below will drag the pair down till 1.2240/1.2200/1.2150/1.2130.
It is good to buy on dips around 1.2285-88 with SL around 1.2240 for the TP of 1.2340.
