Currency pair Euro/Dollar completes the trading week near the level of 1.1361. The pair continues to trade below the lower boundary of the Ichimoku Kinko Hyo Cloud. This indicates the presence of a downward trend in the euro/dollar pair. A test of the lower border 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 1.1095.
EUR/USD Forecast Euro Dollar March 4 — 8, 2019
An additional signal in favor of the EUR/USD pair fall in the current trading week of March 4 — 8, 2018 will be a rebound from the resistance level. And also test the lower boundary of the ascending 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 1.1445.
Cancellation of the option to reduce the pair’s quotes will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the 1.1495 area. This will indicate a change in the bearish trend in favor of the upward trend and the continued growth of the pair on FOREX. Expect to accelerate the fall of the EUR/USD quotes with the breakdown of the support area and closing below 1.1245.
EUR/USD Forecast Euro Dollar March 4 — 8, 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 1.1095. In favor of reducing the test will perform the resistance level. Cancellation option for the fall of the currency pair will breakdown area 1.1495. In this case, we should expect the continuation of the rise of EUR/USD.