Euro dollar forecast for August 9, 2018, EUR/USD rate analysis

The currency pair EUR / USD at the time of writing the forecast is trading at 1.1610.

Quotes of the euro dollar are below the cloud Ichimoku Kinko Hyo, which indicates that the trend is now downward. On the other hand, the signal lines of the Ichimoku indicator show the opposite signal. The red fast signal line crossed the blue slow line from bottom to top yesterday, at 1.11590.

Euro dollar forecast for August 9, 2018, the analysis of the EUR / USD exchange rate

The resistance level is the previous local maximum, which fixed the rebound from the previously broken trend line. This is 1.1630. Also at this time at this level is the lower boundary of the cloud Ishimoku. That is, the level is strong.
The level of support will be the previous local minimum – 1,1530.

The location of the price of the euro against the Ishimoku cloud is a stronger signal. Until the resistance level is broken, the trend is considered to be a downward trend.

We assume that the rollback from the movement that broke the shape of the triangle triangle is completed. Then follows the continued fall in the exchange rate of the currency pair Euro Dollar. The strategy for the euro dollar on August 9 will be the sale of EUR / USD with a short stop behind the resistance level. Canceling the signal – breaking through the resistance level.

Thus, the EUR / USD forecast for the euro exchange rate on August 9 suggests a depreciation of the currency pair, with a target below 1.1530.