Currency pair EUR/USD Euro to US Dollar is trading at the level of 1.1997. 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 1.1945 is expected, from which it is expected to attempt a rebound and continue growth with the target near the level of 1.2080.
Euro Dollar forecast EUR/USD on January 2, 2018
An additional signal in favor of the growth of the pair will be a test of the lower boundary of the bullish channel. 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 pair’s quotations will be a breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the area of 1.1860, 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 of 1.2020.