Currency pair Euro/Dollar EUR/USD completes the trading week near the level of 1.1370. The pair continues to trade below the lower limit of the Ichimoku Kinko Hyo Cloud, which indicates a bearish trend in the Euro/Dollar pair. A test of the Ichimoku Kinko Hyo signal line region is expected near the level of 1.1500, from where we can expect an attempt to rebound and continue the pair’s fall with a potential target near the level of 1.1115.
EUR/USD forecast Euro Dollar October 29 — November 2, 2018
An additional signal in favor of the EUR/USD pair fall in the current trading week of October 29 — November 2, 2018 will be a rebound from the resistance level. Earlier, a weak signal was received for SELL of the Euro/Dollar pair, due to the crossing 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 the area of 1.1660, which 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 1.1265.
EUR/USD forecast Euro Dollar October 29 — November 2, 2018 suggests an attempt to develop a correction to the level of 1.1500, where a rebound can be expected and the pair will continue to fall with a potential target near the level of 1.1115; the pair will break the area of 1.1660, in this case, we should expect continued growth of EUR/USD.