Currency pair EUR/USD is trading at 1.1804. 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, the quotes of the pair are moving near the lower border of the bands of the Bollinger Bands indicator. A test of level 1.1790 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 1.1930.
EUR/USD forecast Euro Dollar on October 17, 2017
The conservative area for Euro/Dollar pair buying is near the lower border of the Bollinger Bands indicator bars at 1.1785. 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 quotes below the area of 1.1760, indicating a change in the bearish trend 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.