Currency pair EUR/USD Euro to US Dollar is trading at 1.1649. The pair continues to trade below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in the Euro/Dollar pair. Ichimoku Kinko Hyo signal line area test is expected near the level of 1.1685, from which it is expected to attempt a rebound and further development of the bearish trend with a target of falling near the level of 1.1530. An additional signal in favor of the fall of the pair is the resistance level test.
Euro Dollar forecast EUR/USD on November 2, 2017
Earlier, a strong signal was received for the sell of the pair Euro/Dollar, due to the crossing of the signal lines at the level of 1.1770. The cancellation of the fall of the pair’s quotations will be a breakdown of the upper boundary of the descending channel with the closing of quotations above the area of 1.1735, which will indicate a change in the bearish trend in favor of the bullish trend. Expect the acceleration of the fall in quotes EUR/USD is at breakdown level 1.1580.
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