Currency pair Euro to US Dollar EUR/USD is trading at 1.0929. The pair continues to trade below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates a downtrend in the pair Euro to US Dollar. The Ichimoku Kinko Hyo Cloud test is expected near the level of 1.0930, from which it is expected to try to fall and further develop the bearish trend for the pair with a view to lower near the level of 1.0820.
EUR/USD forecast Euro to US Dollar on May 16, 2017
Earlier, a weak signal was received for the sale of the pair Euro to US Dollar, due to the crossing of the signal lines at the level of 1.0945. The cancellation of the fall of the pair EUR/USD quotations will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations above the area of 1.0980, which will indicate a change in the downtrend in favor of the bullish trend. Expect to accelerate the fall in quotes EUR/USD stands with the breakdown of the local minimum area at the level of 1.0860.