The Currency pair Euro to US Dollar EUR/USD completes the trading month at the level of 1.0884. The pair is trading below the lower limit of the Ichimoku Cloud, which indicates a downward trend in the pair Euro Dollar. It is expected to test the lower boundary of the Ichimoku Cloud near the level of 1.0970, from which one should expect an attempt to fall and develop a bearish tendency for a pair with the aim of falling near the level of 1.0540.
Ichimoku Kinko Hyo Forecast EUR/USD for May 2017
Earlier, a weak signal was received for the sale of the Euro-US Dollar pair, due to crossing of the signal lines at the level of 1.1189. The cancellation of the fall option will be a breakdown of the upper boundary of the Ichimoku Cloud with the closing of quotations above the area of 1.1200, which will indicate a change in the downward trend in favor of the ascending trend. Expect to accelerate the fall in quotations EUR/USD stands with the breakdown of the local minimum area at the level of 1.0710.
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