Ichimoku analysis (4-hour chart)
Tenken-Sen- 1.21106
Kijun-Sen- 1.21160
EURUSD showing a minor weakness after showing a jump above 200- H MA. The chance of more stimulus has increased after Janet Yellen said the US must 'act big'. The US 10-year yield has lost more than 3% after Janet Yellen confirmed that tax cuts will be revoked.
Technical:
On the higher side, near-term resistance at 1.21620. Any indicative violation above targets 1.2220/1.2260. The near term support is around 1.21150. Breach below will drag the pair down till 1.20650 (trend line support).
It is good to buy on dips around 1.21150 with SL around 1.2650 for the TP of 1.2260.
