Currency pair EUR/USD is trading at 1.2313. 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 middle border of the bands of the Bollinger Bands indicator. A test of the level of 1.2190 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 1.2680.
EUR/USD weekly forecast on February 26 — March 2, 2018
The conservative area for Euro/Dollar pair buying is near the lower border of the Bollinger Bands indicator strip at 1.2180. Canceling the option of continuing the growth of the EUR/USD pair will be a breakdown of the lower border of the Bollinger Bands indicator strip, as well as a moving average with a level of 55 and the closing of the pair quotes below the 1.2000 area, which indicates 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.