Currency pair Euro/Dollar EUR/USD completes the trading week near the level of 1.1511. The pair continues to trade below the lower limit of the Ichimoku Kinko Hyo Cloud, which indicates a downward trend in the Euro Dollar pair. A test of the lower boundary of the Ichimoku Kinko Hyo Cloud is expected near the level of 1.1570, from where it is worth expecting an attempt to rebound and continue the pair’s fall with a potential target near the level of 1.1215.
EUR/USD forecast Euro Dollar October 22 — 26, 2018
An additional signal in favor of the fall of the EUR/USD pair in the current trading week of October 22 — 26, 2018 will be a rebound from the resistance level. Earlier, a weak signal was received for sales of 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 quotations above 1.1670, which will indicate a change in the downward trend in favor of the upward trend and 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 1.1375.
EUR/USD forecast Euro Dollar October 22 — 26, 2018 suggests an attempt to develop a correction to the level of 1.1570, where a rebound can be expected and the pair will continue to fall with a potential target near the level of 1.1215, the resistance level test will cancel out, cancellation of the currency fall option the pair will break through the area of 1.1670, in this case we should expect continued growth of EUR/USD.