Currency pair EUR/USD Euro to US Dollar is trading at 1.2309. The pair continues to trade below the lower boundary of the Cloud Ichimoku Kinko Hyo, which indicates the presence of a bearish trend for the pair Euro/Dollar. Ichimoku Kinko Hyo Cloud is expected to test near the level of 1.2315, from which it is expected to attempt a rebound and continue falling with the target near the level of 1.2195.
Euro Dollar forecast EUR/USD on March 6, 2018
An additional signal in favor of the fall of the pair is the resistance level test. Earlier, a strong signal was received for the sell of the pair Euro/Dollar, due to the crossing of the signal lines at 1.2290.
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 1.2365 area, which indicates a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotes EUR/USD stands with the breakdown of the lower boundary of the channel and the closing below the level of 1.2125.
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