EUR/USD forecast Euro Dollar on November 7, 2018

Currency pair EUR/USD is trading at 1.1402. Quotes of the pair are trading below the moving average with a period of 55, which indicates the presence of a bearish trend for the Euro/Dollar. At the moment, the pair quotes are moving near the middle border of the Bollinger Bands indicator. A test of the level of 1.1430 is expected, from which one can expect an attempt to continue to fall and further develop the downward trend with a target near the level of 1.1330.

EUR/USD forecast Euro Dollar on November 7, 2018

EUR/USD forecast Euro Dollar on November 7, 2018

The conservative area for sales is located near the upper border of the Bollinger Bands indicator bars at 1.1435. Cancellation of the option to continue the fall of the EUR/USD pair will be a breakdown of the upper border of the Bollinger Bands indicator strip, as well as the moving average with a period of 55 and closing of the pair quotes above the 1.1550 area, indicating a change in trend in favor of the bullish for EUR/USD In case of a breakdown of the lower border of the Bollinger Bands indicator bands, one should expect an acceleration of the fall.

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