Currency pair Euro/Dollar completes the trading week near the level of 1.1358. The pair continues to trade inside the Ichimoku Kinko Hyo Cloud. This indicates the presence of a flat trend for a pair of Euro/Dollar.
A test of the upper boundary of the Ichimoku Kinko Hyo Cloud is expected near the 1.1385 level. Where should we expect an attempt to rebound and continue the fall of the pair with a potential target near the level of 1.1110.
EUR/USD Forecast Euro Dollar January 21 — 25, 2019
An additional signal in favor of the fall of the EUR/USD pair in the current trading week of January 21 — 25, 2019 will be a rebound from the resistance level. Earlier, a weak signal was received for BUY the Euro/Dollar pair. The signal was formed due to the intersection of signal lines at the level of 1.1350.
Cancellation of the option of falling quotes of the pair will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the 1.1510 area. This will indicate a change in the side trend in favor of the upward trend and the continued growth of the pair in FOREX. Expect to accelerate the fall of the EUR/USD quotes with the breakdown of the lower boundary of the ascending channel and closing below the level of 1.1295.
EUR/USD Forecast Euro Dollar January 21 — 25, 2019 involves an attempt to develop a correction to the level of 1.1385. Where can we expect a rebound and the continuation of the fall of the pair with a potential target near the level of 1.1110. In favor of reducing the test will perform the resistance level. Cancellation of the fall of the currency pair will be the breakdown of the area of 1.1510. In this case, we should expect continued growth of EUR/USD.