Currency pair EUR/USD Euro to US Dollar is trading at 1.1829. The pair continues to trade above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates an bullish trend in the Euro/Dollar pair. Ichimoku Kinko Hyo indicator area signal line test near the level 1.1815 is expected, from which it is expected to attempt a rebound and further development of the bullish trend with the target of growth near the level of 1.1940.
Euro Dollar forecast EUR/USD on October 16, 2017
An additional signal in favor of the growth of the pair is the support level test. Earlier, a weak signal was received for the buy of the pair Euro/Dollar, due to the crossing of the signal lines at the level of 1.1725. 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 quotes below the area of 1.1740, which will indicate a change in the bullish trend in favor of a bearish trend. Expect to accelerate the growth of quotations EUR/USD is at breakdown level 1.1870.
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