Currency pair Euro to US Dollar EUR/USD is trading at 1.1741. The pair is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bearish trend in the Euro/Dollar pair. Ichimoku Kinko Hyo Cloud near the level 1.1760 is expected to test the lower boundary, from which one should expect an attempt to fall and develop a bearish trend with a target to lower near the level of 1.1590.
Euro Dollar forecast EUR/USD on August 11, 2017
Earlier, a weak signal was received for the sale of the Euro/Dollar pair, due to crossing of the signal lines at the level of 1.1820. The cancellation of the fall of the pair’s quotations will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 1.1830, which indicates a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotes EUR/USD stands with the breakdown of the local minimum area at the level of 1.1620.
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