Currency pair EUR/USD is trading at 1.2268. 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 the level of 1.2210 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 1.2530.
EUR/USD weekly forecast on April 9 — 13, 2018
The conservative area for Euro/Dollar pair buying is near the lower border of the Bollinger Bands indicator strip at 1.2200. Canceling the option of continuing the growth of the EUR/USD pair will be a breakdown of the lower border 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 1.2100, 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.
