Currency pair EUR/USD is trading at 1.1777. 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, the quotes of the pair move near the upper border of the Bollinger Bands indicator bars. A test of the level of 1.1740 is expected, where again one should expect an attempt to continue growth and further development of the upward trend for the pair Euro/Dollar near the level of 1.1870.
EUR/USD forecast Euro Dollar on June 7, 2018
The conservative buying area is located near the lower border of the Bollinger Bands indicator bars at 1.1640. Canceling the option of continuing the EUR/USD pair growth will be the breakdown of the lower border of the Bollinger Bands indicator bands, as well as the moving average with the level of 55 and the closing of the pair quotes below the area of 1.1610, which indicates a change in the trend in favor of the bearish for Euro/Dollar. In the event of breakdown of the upper boundary of the bands of the indicator Bollinger Bands, one should expect an acceleration of growth.