Euro Dollar forecast EUR/USD on February 7, 2018

7 February 2018, 06:41
Jatin Patel

Currency pair EUR/USD Euro to US Dollar is trading at 1.2416. The pair continues to trade within the Cloud of Ichimoku Kinko Hyo, which indicates the presence of a lateral trend for the pair Euro/Dollar. The Ichimoku Kinko Hyo Cloud lower limit test is expected near 1.2355, from which it is expected to attempt a rebound and continue growth with the target near the level of 1.2640. An additional signal in favor of the growth of the pair is the lower bound of the «Triangle» model.

Earlier, a weak signal was received for the sell of the Euro/Dollar pair, due to the crossing of the signal lines at the level of 1.2450. The cancellation of the growth of the quotes of the pair will be a breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations below the area of ​​1.2325, indicating a change in the flat trend in favor of a bearish trend. Expect to accelerate the growth of quotations EUR/USD stands with the breakdown of the upper boundary of the indicator Cloud and the closing above the level of 1.2430.

Share it with friends: