Currency pair EUR/USD Euro to US Dollar is trading at 1.2278. The pair continues to trade below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in the Euro/Dollar pair. The test area of Ichimoku Kinko Hyo signal lines near the level of 1.2270 is expected, from which it is expected to attempt a rebound and continue falling with the target near the level of 1.2150.
Euro Dollar forecast EUR/USD on March 22, 2018
An additional signal in favor of the fall of the pair will be a test of the resistance area. Earlier, a medium strength signal was received for the sell of the Euro/Dollar pair, due to the crossing of signal lines at 1.2365.
The cancellation of the fall of the pair’s quotations will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 1.2360, which indicates a change in the bearish trend in favor of the bullish trend. Expect the acceleration of the EUR/USD quotes falling with the breakdown of the support area and the closing below the level of 1.2220.
