Trade Idea EURUSD (Intraday)

Trade Idea EURUSD (Intraday)

Ichimoku analysis (Hourly chart)

Tenken-Sen- 1.2117

Kijun-Sen- 1.21068
EURUSD is trading higher after ECB monetary policy statement. The central bank has kept its rates unchanged as expected and increased its bond purchase by € 500 billion. The number of people who have filed for unemployment benefits has increased to 853000 vs an estimate of 725K. US CPI came at 0.2% in November compared to a forecast of 0.1%. The annual inflation unchanged at 1.6%. DXY is trading below the 91 levels; Any minor bullishness only above 91.50. Short term trend of EURUSD is bullish as long as support 1.2040 holds.  

Technical:
EURUSD has declined slightly after hitting an intraday high of 1.21588. The near term significant resistance is around 1.21780 and any indicative break above that level will take till 1.2200/1.2250.On the lower side; any convincing break below 1.2058 confirms the minor weakness. A dip till 1.2040/1.2000 possible.  

It is good to buy on dips around 1.2100 with SL around 1.2050 for the TP of 1.2200.