Currency pair Euro/Dollar completes the trading week near the level of 1.0867. 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. As part of the Forex forecast Euro Dollar for the current trading week. A correction is expected to develop and a test of the lower border of the Cloud of the Ichimoku Kinko Hyo indicator near the level of 1.0915 is expected. Where should we expect an attempt to rebound the price down and continue the fall of the pair with a potential target near the level of 1.0465.
EUR/USD Prediction August 21 — 25, 2022
An additional signal in favor of the fall of the EUR/USD currency pair in the current trading week August 21 — 25, 2022 will be a rebound from the resistance level on the price chart of the pair. The second signal will be a rebound from the upper border of the descending channel. Earlier, a weak signal was received for selling the Euro/Dollar pair. The signal was formed due to the crossing of the signal lines at the level of 1.1035. The nearest resistance area for the Euro/Dollar pair is located at 1.0975. Support area for EUR/USD is at 1.0665.
Cancellation of the option of falling quotes of the pair will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 1.1075. This will indicate a change in the bearish trend in favor of the bullish trend and the continuation of the fall of the pair on Forex. It is worth waiting for confirmation of the fall in EUR/USD quotes with a breakdown of the resistance area and closing above the level of 1.0765, which will indicate a breakdown of the upper limit of the downward correction channel.
EUR/USD Prediction August 21 — 25, 2022 suggests an attempt to develop a correction to the level of 1.0915. Where should we expect a rebound and a continuation of the fall of the pair with a potential target near the level of 1.0465. In favor of the decline, there will be a rebound from the upper border of the bearish channel. Cancellation of the option of the fall of the currency pair in the next trading week will be a breakdown of the area of 1.1075. In this case, we should expect the continued growth of the EUR/USD currency pair on Forex with a potential target at the level of 1.1245.
