Currency pair EUR/USD Euro to US Dollar is trading at 1.2044. The pair continues to trade above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bullish trend in the Euro/Dollar. Ichimoku Kinko Hyo signal line area test is expected near the level of 1.2010, from which it is expected to attempt a rebound and continue growth with the target near the level of 1.2160. An additional signal in favor of the growth of the pair will be the formation of an inverted «Head and Shoulders» model.
Euro Dollar forecast EUR/USD on January 15, 2018
Earlier, a medium strength signal was received for buy of the Euro/Dollar, due to the crossing of the signal lines at the level of 1.2005. 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 quotations below the area of 1.1950, 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.