EUR/USD forecast Euro Dollar on January 16, 2018

Currency pair EUR/USD is trading at 1.2278. Quotes 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, quotes of the pair test the upper boundary of the bars of the indicator Bollinger Bands. A test of the level of 1.2210 is expected, where again we should expect an attempt to continue growth and further development of the upward trend for the pair Euro/Dollar near the level of 1.2350.

EUR/USD forecast Euro Dollar on January 16, 2018

EUR/USD forecast Euro Dollar on January 16, 2018

The conservative area for Euro/Dollar pair buying is located near the middle border of the Bollinger Bands indicator bars at 1.2070. Canceling the option of continuing the growth of the EUR/USD pair will be the breakdown of the mid-range of the Bollinger Bands indicator bars, as well as the moving average with a level of 55 and the closing of the pair quotes below the area of ​​1.1930, indicating a change in the trend in favor of the bearish for 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.


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