Currency pair EUR/USD is trading at 1.1661. 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 upper boundary of the bands of the indicator Bollinger Bands. An insignificant correction is expected near the level of 1.1570, where again we should expect an attempt to continue growth and further development of the upward trend in the Euro/Dollar pair near the level of 1.1765.
Bollinger Bands forecast EUR USD on July 24, 2017
The conservative area for Euro/Dollar pair buying is near the lower border of the Bollinger Bands indicator bands at 1.1460. Canceling the option of continuing the growth of the EUR/USD pair will be a breakdown of the lower area of the Bollinger Bands indicator bars, as well as a moving average with a level of 55 and the closing of the pair’s quotes below the area of 1.1380, 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.