Currency pair EUR/USD is trading at 1.1522. Quotes of the pair are trading below the moving average with a period of 55, which indicates the presence of a bearish trend for the Euro/Dollar. At the moment, the pair quotes are moving near the middle border of the Bollinger Bands indicator. A test of level 1.1580 is expected, from which one can expect an attempt to continue to fall and further develop the downward trend with a target near the level of 1.1410.
EUR/USD forecast Euro Dollar on October 8, 2018
The conservative sales area is located near the upper boundary of the Bollinger Bands indicator bars at 1.1590. Cancellation of the option to continue the fall of the EUR/USD pair will be a breakdown of the upper border of the Bollinger Bands indicator strip, as well as the moving average with a period of 55 and closing of the pair quotes above the 1.1700 region, which will indicate a change in trend in favor of the bullish EUR/USD. In case of a breakdown of the lower border of the Bollinger Bands indicator bands, one should expect an acceleration of the fall.