Currency pair EUR/USD is trading at 1.1588. Quotes of the pair are trading below the moving average with a period of 55, indicating a bearish trend for the Euro/Dollar. At the moment, the quotes of the pair are moving near the middle border of the bands of the Bollinger Bands indicator. A test of level 1.1620 is expected, from which one should expect an attempt to continue falling and further development of the downward trend with the target near the level of 1.1480.
EUR/USD forecast Euro Dollar on August 9, 2018
The conservative sales area is located near the upper boundary of the Bollinger Bands indicator bars at 1.1625. The abolition of the continuation of the fall of the EUR/USD pair will be the breakdown of the upper boundary of the Bollinger Bands indicator bands, as well as the moving average with a period of 55 and the closing of the pair quotes above the 1.1700 area, indicating a change in the bullish trend for EUR/USD. In the event of a breakdown of the lower boundary of the bands of the Bollinger Bands indicator, it is expected to accelerate the fall.