Currency pair EUR/USD is trading at 1.1812. Quotations 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 pair’s quotes are moving near the middle border of the Bollinger Bands indicator bars. An insignificant correction is expected near the level of 1.1760, where again we should expect an attempt to continue growth and further development of the upward trend for the pair Euro/Dollar target near the level of 1.2040.
EUR/USD forecast Euro Dollar on August 9, 2017
The conservative area for Euro/Dollar pair buying is near the lower border of the Bollinger Bands indicator bands at 1.1740. Canceling the option of continuing the growth of the EUR/USD pair 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’s quotes below the area of 1.1680, which will indicate a change in the trend in favor of the bearish 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.