Currency pair EUR/USD Euro to US Dollar is trading at 1.1420 and continues to move as part of the correction. The pair is trading inside the Ichimoku Kinko Hyo Cloud, which indicates the presence of a flat trend for the EUR/USD pair. As part of the Euro Dollar prediction EUR/USD November 6, 2018, a test of the upper limit of the Ichimoku Kinko Hyo Cloud is expected near the level of 1.1435. Where can we expect an attempt to rebound and continue to fall in EUR/USD with a potential target at the level of 1.1320.
Euro Dollar prediction EUR/USD November 6, 2018
An additional signal in favor of reducing the EUR/USD currency pair will be a test of the resistance area, as well as the formation of the downward wave «Wolfe Wave» model. Earlier, a weak signal was received for BUY the Euro/Dollar pair, due to the intersection of signal lines at the level of 1.1365.
Cancellation of the option to reduce the EUR/USD pair quotations at Forex will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the 1.1465 area. 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 decline of EUR/USD quotes with the breakdown of the support area and closing below 1.1360.
Euro Dollar prediction EUR/USD November 6, 2018 implies an attempt to test the resistance level near the 1.1435 area, from where we can expect a further decline in the currency pair with a potential target near the level of 1.1320. The breakdown of the option of falling of the pair will be a breakdown of the area of 1.1465, which will indicate the continuation of the growth of the EUR/USD exchange rate.