Primary resistance – 1.19200 (200 M EMA)
Ichimoku Analysis (Daily chart)
Tenken-Sen- 1.18384
Kijun-Sen- 1.16453
EURUSD is trading high for 6th consecutive days due to an increase in risk appetite. The minor dip in US yield after hitting 8-week high and delay in US stimulus package is putting pressure on the US dollar. Markets eye US Fed meeting minutes for further up move in this pair. The pair hits an intraday high of 1.19527 and is currently trading around 1.19465.
The daily chart shows that the pair has broken significant resistance at 1.19200 after a long consolidation. It confirms bullish continuation, a jump till 1.2000/1.2135 is possible.
On the lower side, strong support is at 1.1900, and the break below will drag the pair down till 1.18477/1.18200/1.1780.
It is good to buy on dips around 1.19200 with SL around 1.1860 for the TP of 1.2090.
