Ichimoku analysis (4-hour chart)
Tenken-Sen- 1.08131
Kijun-Sen- 1.08267
EURUSD trades flat ahead of ECB President Lagarde's speech. Any hawkish comments from Lagarde will push Euro higher. It hits an intraday high of 1.08441 and is currently trading around 1.08275.
Technical:
The pair is trading above short-term (21 and 55 EMA) and long-term (200-EMA) in the 4-hour chart. Any break above 1.0850 confirms intraday bullishness, with a jump till 1.08875 (Jan 18th, 2023 high)/1.0925/1.09500/1.100 likely. The near-term support is around 1.07600. The breach below will drag the pair down to 1.0700/1.0660/1.0600.
Indicator (4-hour chart)
CCI – Bullish
Directional movement index – Bullish
It is good to buy on dips around 1.0800 SL around 1.0760 for the TP of 1.100.
