Currency pair EUR/USD Euro to US Dollar is trading at 1.1377 and continues to move in the framework of the correction and the formation of the «Triangle» model. The pair is trading below the lower limit of the Ichimoku Kinko Hyo Cloud, which indicates the presence of a downward trend in the EUR /USD pair. As part of the Euro Dollar prediction EUR/USD October 31, 2018, Ichimoku Kinko Hyo signal lines are expected to test near the level of 1.1405, from which one should expect an attempt to rebound and continue to fall in EUR/USD with a potential target of 1.1265.
Euro Dollar prediction EUR/USD October 31, 2018
An additional signal in favor of reducing the currency pair EUR/USD will be a test of the resistance area, as well as a rebound from the upper limit of the downward channel. Earlier, a weak signal was received for SELL the Euro/Dollar pair, due to the crossing of signal lines at the level of 1.1565.
Cancellation of the option to reduce the EUR/USD pair quotations at Forex will be a breakdown of the upper limit of the Ichimoku Kinko Hyo Cloud with the close of quotes above the 1.1485 area, which will indicate a downward trend in favor of the upward trend and continued growth of the Euro against the US dollar at Forex. Expect to accelerate the decline in quotations of EUR/USD stands with the breakdown of the lower boundary of the model «Triangle» and closing below 1.1340.
Euro Dollar prediction EUR/USD October 31, 2018 suggests an attempt to test the resistance level near the 1.1405 area, from which we can expect a further decline in the currency pair with a potential target near the level of 1.1265, the cancellation of the fall option will break the area of 1.1485, which indicates a continuation growth rate of the Euro to the US Dollar.