Currency pair EUR/USD Euro to US Dollar is trading at 1.2056. 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. Ichimoku Kinko Hyo signal line area test is expected near the level of 1.1990, from which it is expected to attempt a rebound and continue growth with the target near the level of 1.2150. An additional signal in favor of the growth of the pair will be a test of the lower boundary of the bullish channel.
Euro Dollar forecast EUR/USD on January 4, 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 quotations of the pair will be a breakdown of the lower boundary of the Cloud of Ichimoku Kinko Hyo with the closing of quotations below the area of 1.1910, 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 1.2070.