Short term trend: Bullish
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 1.2427
Kijun-Sen level: 1.2370
Ichimoku cloud top: 1.2378
Ichimoku cloud bottom: 1.2403
EUR/USD has formed a short term bottom around 1.2350 and any further weakness can be seen only below 1.2350.
The break of 1.2350 will take the pair to 1.2280/1.2200.The EUR/USD temporary resistance is around 1.2535 and any break of resistance will reach 1.2602/1.2630 in short term.
EUR/USD is in consolidation phase with mild upside bias is seen for the test of 1.2600 (Nov 19th high).
Indicators
Ichimoku (9, 26, 52, 26) - Buy
MACD (12.26.9) – Buy
Recommendation: Buy EUR/USD around 1.2370, SL 1.2280, Target 1.2602.
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 1.2427
Kijun-Sen level: 1.2370
Ichimoku cloud top: 1.2378
Ichimoku cloud bottom: 1.2403
EUR/USD has formed a short term bottom around 1.2350 and any further weakness can be seen only below 1.2350.
The break of 1.2350 will take the pair to 1.2280/1.2200.The EUR/USD temporary resistance is around 1.2535 and any break of resistance will reach 1.2602/1.2630 in short term.
EUR/USD is in consolidation phase with mild upside bias is seen for the test of 1.2600 (Nov 19th high).
Indicators
Ichimoku (9, 26, 52, 26) - Buy
MACD (12.26.9) – Buy
Recommendation: Buy EUR/USD around 1.2370, SL 1.2280, Target 1.2602.