EUR/USD Forecast. Ichimoku Cloud Analysis 24.03.2020

eu-l8EURUSD is trading at 1.0786; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s downside border at 1.0715 and then resume moving upwards to reach 1.1070. Another signal to confirm further ascending movement is the price’s rebounding from the downside border of a Triangle pattern.

However, the scenario that implies further growth may be canceled if the price breaks the cloud’s downside border and fixes below 1.0650. In this case, the pair may continue falling towards 1.0575. After breaking the pattern’s upside border and fixing above 1.0855, the price may resume moving upwards.

EURUSD

Orgin: RoboForex

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