Ichimoku Analysis (4-hour chart)
Tenken-Sen- 1.16097
Kijun-Sen- 1.16069
EURUSD continues to trade higher and holding above 1.1630 on upbeat Eurozone flash PMI data. The services PMI data came at 55 compared to an estimate of 51.0 while manufacturing PMI came at 53.6 vs 52. The upbeat risk appetite is also supporting the euro to hold above 1.1600 levels. US New home sales beat expectations at 776K vs 700K. It hits a high of 1.16392 and is currently trading around 1.16298.
The pair has broken 1.16268 high made yesterday and it confirms follow-through buying, a jump till 1.1700. The near term support is around 1.1580, violation below will take the EURUSD till 1.1540/1.1500
It is good to buy on dips around 1.1600 with SL around 1.1540 for the TP of 1.1620.
