Currency pair Euro/Dollar EUR/USD completes the trading week near the level of 1.1411. The pair continues to trade below the lower boundary of the Ichimoku Kinko Hyo Cloud.
This indicates the presence of a bearish trend in the euro/dollar pair. The test of the lower border of the Ichimoku Kinko Hyo Cloud is expected near the level of 1.1435. Where should we expect an attempt to rebound and continue the fall of the pair with a potential target near the level of 1.0995.
EUR/USD forecast Euro Dollar December 10 — 14, 2018
An additional signal in favor of the fall of the EUR/USD pair in the current trading week of December 10 — 14, 2018 will be a rebound from the resistance level. And also test the upper limit of the model «Triangle». Previously, a strong signal was received for sales of the Euro/Dollar pair. The signal was formed due to the intersection of signal lines at the level of 1.1355.
Canceling the option of falling in the pair’s quotes will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the 1.1575 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 in EUR/USD quotes with the breakdown of the lower boundary of the «Triangle» model and closing below 1.1280.
EUR/USD forecast Euro Dollar December 10 — 14, 2018 involves an attempt to develop a correction to the level of 1.1435. Where can we expect a rebound and the continuation of the fall of the pair with a potential target near the level of 1.0995. In favor of reducing the test will perform the resistance level. Cancellation of the fall of the currency pair will be a breakdown of the area of 1.1575. In this case, we should expect continued growth of EUR/USD.