The currency pair Euro Dollar EUR/USD completes the trading week at the level of 1.0893. Quotes of the pair are traded above the moving average with a period of 55, which indicates the existence of a bullish trend for the euro dollar. At the moment, quotes of the pair test the upper boundary of the bands of the indicator Bollinger Bands. The pair is expected to fall near the level of 1.0780, where again we should expect an attempt to continue growth with the first goal near the level of 1.1050.
Bollinger Bands forecast EUR/USD for May 1 — 5, 2017
The conservative buying area is located near the lower border of the Bollinger Bands indicator strip at the level of 1.0510. Canceling the option of continuing the growth of the EUR/USD pair will be a breakdown of the moving average with a period of 55, as well as the lower border of the indicator bands and the closing of the pair’s quotations below the area of 1.0410, which will indicate a change in the trend in favor of the bearish euro against the dollar. In the event of breakdown of the upper border of the indicator strip, it is expected to accelerate the growth of the pair in the area above the level of 1.1050.