Currency pair EUR/USD is trading at 1.2330. 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 1.2290 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 1.2450.
EUR/USD forecast Euro Dollar on March 5, 2018
The conservative area for Euro/Dollar pair buying is near the middle border of the Bollinger Bands indicator bars at 1.2240. Canceling the option of continuing the growth of the pair EUR/USD will be a breakdown of the mid-range area of the Bollinger Bands indicator bars, as well as a moving average with a level of 55 and the closing of the pair quotes below the area of 1.2190, indicating a change in the bearish trend for the 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.