Currency pair EUR/USD Euro to US Dollar is trading at 1.1629. 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. The test area of Ichimoku Kinko Hyo signal lines near the level of 1.1685 is expected, from which it is expected to attempt a rebound and further develop the bearish trend with the target of falling near the level of 1.1485.
Euro Dollar forecast EUR/USD on November 1, 2017
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 the level of 1.1770. The cancellation of the fall of the pair’s quotations will be a breakdown of the upper boundary of the bearish channel with the closing of quotations above the area of 1.1735, which will indicate a change in the bearish trend in favor of the bullish trend. Expect the acceleration of the fall in quotes EUR/USD is at breakdown level 1.1580.