Currency pair Euro/Dollar completes the trading week near the level of 1.1401. The pair continues to trade inside the Ichimoku Kinko Hyo Cloud. This indicates the presence of a side trend for a pair of Euro Dollar.
Ichimoku Kinko Hyo Cloud is expected to test near the level of 1.1485. Where should we expect an attempt to rebound and continue the fall of the pair with a potential target near the level of 1.1030.
EUR/USD forecast Euro Dollar January 7 — 11, 2019
An additional signal in favor of the fall of the EUR/USD pair in the current trading week of January 7 — 11, 2019 will be a rebound from the resistance level. And also test the upper limit of the model «Triangle». Earlier, a weak signal was received for BUY the Euro/Dollar pair. The signal was formed due to the intersection of signal lines at the level of 1.1350.
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 1.1555 area. This will indicate a change in the side trend in favor of the upward trend and the continued growth of the pair in Forex. Expect to accelerate the fall in EUR/USD quotes with the breakdown of the lower boundary of the «Triangle» model and closing below 1.1255.
EUR/USD forecast Euro Dollar January 7 — 11, 2019 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 1.1030. 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 1.1555. In this case, we should expect continued growth of EUR/USD.