Currency pair EUR/USD Euro to US Dollar is trading at 1.1312 and continues to move as part of the correction. The pair moves below the lower boundary of the Ichimoku Kinko Hyo Cloud. This indicates the presence of a downward trend for the EUR/USD pair. As part of the Euro Dollar Forecast EUR/USD March 8, 2019. The test of the lower border of the Ichimoku Kinko Hyo Cloud is expected near the level of 1.1335. Where should we expect an attempt to rebound and continue the fall of EUR/USD with a potential target at the level of 1.1190.
Euro Dollar Forecast EUR/USD March 8, 2019
An additional signal in favor of the fall of the EUR/USD currency pair will be a test of the resistance area. The second signal will be a rebound from the lower boundary of the rising channel. Earlier, a weak signal was received for SELL the Euro/Dollar pair. The signal was formed due to the intersection of signal lines at the level of 1.1375.
Canceling the option of falling quotes of the EUR/USD pair on Forex will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations above 1.1395. This option will indicate a change in the downward trend in favor of the upward trend and the continued growth of the Euro against the US Dollar at Forex. Expect to accelerate the fall of the EUR/USD quotes with the breakdown of the support area and closing below 1.1275.
Euro Dollar Forecast EUR/USD March 8, 2019 involves an attempt to test the resistance level near the 1.1335 area. Where can we expect to continue the fall of the currency pair with a potential target near the level of 1.1190. Cancel the option to reduce the pair will breakdown of the area 1.1395. This will indicate continued growth of the Euro against the US dollar with a potential target above the level of 1.1515.