Currency pair Euro/Dollar EUR/USD completes the trading week near the level of 1.1412. The pair continues to trade below the lower limit of the Ichimoku Kinko Hyo Cloud.
This indicates the presence of a downward trend in the euro dollar pair. A test of the Ichimoku Kinko Hyo signal line region is expected near the 1.1485 level. Where should we expect an attempt to rebound and continue the fall of the pair with a potential target near the level of 1.1105.
EUR/USD forecast Euro Dollar November 19 — 23, 2018
An additional signal in favor of the fall of the EUR/USD pair in the current trading week of November 19 — 23, 2018 will be a rebound from the resistance level. And also test the upper limit of the downward channel. Earlier, a weak signal was received for SELL the Euro Dollar pair, due to the intersection of signal lines at the level of 1.1630.
Canceling 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 1.1590 area. This will indicate a change in the downward 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 1.1255.
EUR/USD forecast Euro Dollar November 19 — 23, 2018 suggests an attempt to develop a correction to the level of 1.1485. Where can we expect a rebound and the continuation of the fall of the pair with a potential target near the level of 1.1105. 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 1.1590. In this case, we should expect continued growth of EUR / USD.