Currency pair Euro/Dollar completes the trading week near the level of 1.0059. 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 boundary of the Cloud of the Ichimoku Kinko Hyo indicator near the level of 1.0105. Where should we expect an attempt to rebound and continue the fall of the pair with a potential target near the level of 0.9475.
EUR/USD Prediction September 12 — 16, 2022
An additional signal in favor of a decrease in the EUR/USD currency pair in the current trading week September 12 — 16, 2022 will be a rebound from the resistance level on the price chart of the pair. The second signal will be a test of the upper limit of the downward correction channel. Earlier, a strong 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 1.0105. The nearest resistance area for the Euro/Dollar pair is at 1.0265. Support area for EUR/USD is located at 0.9805.
Cancellation of the option to reduce the 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 area of 1.0465. This will indicate a change in the bearish trend in favor of the bullish trend and the continuation of the rise of the pair on Forex. It is worth waiting for confirmation of the fall in EUR/USD quotes with a breakdown of the support area and closing below the level of 0.9805.
EUR/USD Prediction September 12 — 16, 2022 suggests an attempt to develop a correction to the level of 1.0105. Where should we expect a rebound and continuation of the fall of the pair with a potential target near the level of 0.9475. A test of the resistance level will come out in favor of the decline. Cancellation of the option to reduce the currency pair in the next trading week will be a breakdown of the area of 1.0465. In this case, we should expect the EUR/USD currency pair to continue to rise on Forex with a potential target at 1.0705.
