Currency pair EUR/USD Euro to US Dollar is trading at 1.1242. The pair moves below the lower boundary of the Ichimoku Kinko Hyo Cloud. This indicates the presence of a bearish trend for the EUR/USD pair. As part of the forecast of the Euro to the US Dollar on April 24, 2019. The test of the lower border of the Ichimoku Kinko Hyo Cloud is expected near the level of 1.1255. Where can we expect an attempt to rebound and continue to fall in the pair EUR/USD with a potential goal at the level of 1.1125.
Euro Dollar Forecast EUR/USD April 24, 2019
An additional signal in favor of raising the EUR/USD currency pair will be a test of the support area. As well as a rebound from the lower boundary of the rising channel. Earlier, a weak signal was received for sales of the Euro/Dollar. The signal was formed due to the intersection of signal lines at the level of 1.1295.
Canceling the option of falling quotations of the EUR/USD pair at FOREX will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the 1.1325 area. This option will indicate a change in the downward trend in favor of the upward trend and the continuation of the fall of the Euro to the US Dollar at FOREX. Expect acceleration of growth in the fall of EUR/USD stands with the breakdown of the support area and closing below 1.1205.
Euro Dollar Forecast EUR/USD April 24, 2019 implies an attempt to test the resistance level near the area of 1.1255. Where can we expect to continue the fall of the currency pair with a potential target near the level of 1.1125. Cancel the option to reduce the pair will breakdown of the area 1.1325. This will indicate continued growth of the Euro against the US dollar with a potential target above the level of 1.1405.