FxWirePro: EURUSD Daily outlook

Ichimoku Analysis (1-hour chart)

Tenken-Sen- 1.12991

Kijun-Sen- 1.13400

EURUSD recovered slightly above 1.1300 after a dip till 1.12765. The U.S dollar gained strength yesterday after total number cases crossed 2 million and over 1 lakh people died. The number of people filed for unemployment benefits rose to 1.54 million compared to a forecast of 1.60 million and a total 12-week at 44 million. The Fed has given a very bleak outlook on the U.S and decreased hopes of V-Shaped recovery It hits an intraday high of 1.13287 and is currently trading around 1.13292.

On the higher side, immediate resistance is around 1.1345 will take the pair to next level 1.1385/1.1400/1.1435. Significant trend continuation only above 1.1500. The near term support stands at 1.1270, violation below targets (23.6% fib)/1.1200 (200-H MA/1.1150.

It is good to buy on dips around 1.1280-825 with SL around 1.123 for the TP of 1.1495.