Euro Dollar forecast for September 28, 2018

Right now, in the morning 28.09.2018, the Euro dollar are on the mark 1,1630.

The Euro is falling against the dollar, as part of the pullback from the previous upward wave. As you can see on the chart, the EUR/USD quotes broke the trend line and are below the Ichimoku Kinko Hyo cloud. The signal lines of the Ichimoku indicator also reacted to the fall of the rate, the red fast signal line crossed the blue slow line from top to bottom. This indicates a downward trend in the Euro dollar.

Euro Dollar forecast for September 28, 2018

The nearest support level for the EUR / USD rate, we see 1,1620. This level is almost reached. If the quotation of EUR/USD will not be able to gain a foothold below this level – will be followed by a short-term pullback with the testing of the resistance level 1,1700. The lower boundary of the Ichimoku cloud acts as the resistance level.

If the downward movement of the Euro dollar continues, we will test the support level of 1.1560.

The strategy for the Euro dollar today will be selling at the Euro dollar, at the current market price. In the case of a short – term rollback-traders will have the opportunity to buy a currency pair at the best price.

Thus, the forecast of the Euro Dollar on September 28 suggests a further decline in the Euro, either with a short-term rollback to 1.1700, or immediately to 1.1560. In any case, the direction of the market today we see bearish.