Currency pair Euro Dollar EUR/USD completes the trading week at the level of 1.0929. 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, quotes of the pair test the average border of the indicator Bollinger Bands. A correction to the moving average with a period of 55 near the level of 1.0790 is expected, where again we should expect an attempt to continue the growth of the pair’s quotes with the further development of the bullish trend with the first target near the level of 1.1090.
EUR/USD forecast for the week May 15 — 19, 2017
The conservative EUR/USD buy area is located near the lower border of the Bollinger Bands indicator strip at the level of 1.0660. The cancellation of the continuation of the pair EUR/USD price growth will be the breakdown of the moving average with a period of 55, as well as the lower border of the indicator bands and the closing of the pair’s quotes below the area of 1.0570, which indicates a change in the bullish trend in favor of the bearish trend Euro against US Dollar. In the event of a breakdown of the upper border of the indicator, it is expected to accelerate the growth of quotations of the pair in the area above the level of 1.1090.