Currency pair EUR/USD Euro to US Dollar is trading at 1.1746. The pair continues to trade below the lower boundary of the Cloud Ichimoku Kinko Hyo, which indicates the presence of a bearish trend for the pair Euro/Dollar. The test of the lower boundary of the Ichimoku Kinko Hyo indicator cloud is expected near the level of 1.1750, from which one should expect a rebound attempt and further development of the bearish trend with the target of falling near the level of 1.1580.
Euro Dollar forecast EUR/USD on October 11, 2017
An additional signal in favor of continuing the fall of the pair is the test of the upper boundary of the bearish channel. Earlier, a strong signal was received for the sell of the Euro/Dollar pair, due to the crossing of the signal lines at the level of 1.1785. 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 will indicate a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotes EUR/USD is at the breakdown of the level of 1.1685.