Currency pair EUR/USD is trading at 1.2385. 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 move near the upper border of the bands of the Bollinger Bands indicator. A test of the level of 1.2350 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 1.2500.
EUR/USD forecast Euro Dollar on March 7, 2018
The conservative area for Euro/Dollar pair buying is near the middle border of the Bollinger Bands indicator bars at 1.2390. Canceling the option of continuing the EUR/USD pair growth 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 1.2210 area, 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.
