Currency pair EUR/USD Euro to US Dollar is trading at 1.2401. The pair continues to trade above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bullish trend in the Euro/Dollar pair. The test area of Ichimoku Kinko Hyo signal lines near the level of 1.2370 is expected, from which it is expected to attempt a rebound and continue the growth of EUR/USD with the target near the level of 1.2540.
Euro Dollar forecast EUR/USD on March 29, 2018
An additional signal in favor of the growth of the pair will be a test of the upper boundary of the channel, as well as a test of the support level. Earlier, a weak signal was received for buy of the pair Euro/Dollar, due to the crossing of signal lines at the level of 1.2300.
The cancellation of the growth of the pair’s quotations will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations below the area of 1.2300, which will indicate a change in the bullish trend in favor of the bearish trend. Expect the acceleration of the growth of quotations EUR/USD stands with the breakdown of the resistance area and the closing above the level of 1.2490.