Currency pair EUR/USD Euro to US Dollar is trading at 1.2453. The pair continues to trade above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bullish trend in the Euro/Dollar. The test area of Ichimoku Kinko Hyo signal lines near the level of 1.2390 is expected, from which it is expected to attempt a rebound and continue growth with the target near the level of 1.2720.
Euro Dollar forecast EUR/USD on January 29, 2018
An additional signal in favor of the growth of the pair will be a test of the support level, as well as a test of the lower boundary of the bullish channel. Earlier, a strong signal was received for buy of the Euro/Dollar pair, due to crossing of the signal lines at the level of 1.2245.
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 1.2105, 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 1.2530.
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