Currency pair EUR/USD is trading at 1.1596. 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 bars. A test of the level 1.1750 is expected, from which one should expect an attempt to continue the fall and further development of the downward trend with the target near the level of 1.1250
EUR/USD weekly forecast on October 1 — 5, 2018
The conservative sales area is located near the upper boundary of the Bollinger Bands indicator bars at 1.1790. 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 1.1850 area, which will indicate a change in trend in favor of the bullish for 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.