Currency pair EUR/USD is trading at 1.1818. Quotes of the pair are trading below the moving average with a period of 55, indicating a bearish 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 1.1850 is expected, from which one should expect an attempt to continue falling and further development of a downward trend with a target near the level of 1.1650.
EUR/USD forecast Euro Dollar on May 23, 2018
The conservative sales area is located near the upper boundary of the Bollinger Bands indicator bars at 1.1860. The abolition of the continuation of the fall of the EUR/USD pair will be the breakdown of the upper range of the Bollinger Bands indicator bands, as well as the moving average with a period of 55 and the closing of the pair quotations above 1.1920 area, which will indicate a change in the bullish trend for EUR/USD. In the event of a breakdown of the lower boundary of the bands of the Bollinger Bands indicator, it is expected to accelerate the fall.
