Currency pair EUR/USD Euro to US Dollar is trading at 1.1940. 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 1.1915 is expected, from which it is expected to attempt a rebound and continue growth with the target near the level of 1.1965. An additional signal in favor of the pair’s growth will be an uptrend line test.
Euro Dollar forecast EUR/USD on January 1, 2018
Earlier, a medium strength signal was received for buy of the Euro/Dollar pair, due to the crossing of the signal lines at the level of 1.1790. The cancellation of the growth of the quotes of the pair will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations below the area of 1.1840, which will indicate a change in the bullish trend in favor of the bearish trend. Expect to accelerate the growth of quotations EUR/USD is at breakdown level 1.1965.
However, we should not exclude the formation of the «Wedge» reversal model, therefore, with the breakdown of the lower boundary of the model, one should expect the beginning of a bearish trend in the pair.
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