Currency pair EUR/USD is trading at 1.1522. Quotes of the pair are trading above the moving average with a period of 55. This indicates the presence of a bullish trend for the pair Euro/Dollar. At the moment, the pair quotes are moving near the upper border of the Bollinger Bands indicator bars.
EUR/USD weekly forecast on January 14 — 18, 2019
As part of the forecast of the euro dollar pair is expected to test the level of 1.1420. Where can we expect the attempt to continue the growth of the EUR/USD pair and the further development of the upward trend. The purpose of this movement is the area near the level of 1.1720. The conservative area for buying of the EUR/USD pair is located near the lower border of the Bollinger Bands indicator strip at the level of 1.1290.
Cancellation of the option to continue the growth of the Euro Dollar pair will be a breakdown of the lower border of the Bollinger Bands indicator bands. As well as a moving average with a period of 55 and closing quotes pair below 1.1210 area. This will indicate a change in the current trend in favor of bearish for EUR/USD. In case of a breakdown of the upper border of the Bollinger Bands indicator bands, one should expect an acceleration of growth.
EUR/USD weekly forecast on January 14 — 18, 2019 suggests a test level of 1.1420. Further, growth is expected to continue to the area above the level of 1.1720. The conservative buying area is located is near the area of 1.1290. The cancellation of the growth option of the EUR/USD pair will be the breakdown of the level of 1.1210. In this case, we should expect the continuation of the fall.