EUR/USD forecast Euro Dollar on November 8, 2018

Currency pair EUR/USD is trading at 1.1470. Quotes of the pair are trading above the moving average with a period of 55, which indicates the presence of a bullish trend for the Euro/Dollar. At the moment, the pair quotes are moving near the upper border of the Bollinger Bands indicator bars. A test of the level of 1.1420 is expected, from where we again expect an attempt to continue the growth and further development of the upward trend near the level of 1.1540.

EUR/USD forecast Euro Dollar on November 8, 2018

EUR/USD forecast Euro Dollar on November 8, 2018

The conservative area for Euro/Dollar pair buying is near the lower border of the Bollinger Bands indicator strip at 1.1370. Cancellation of the option to continue the growth of the pair Euro/Dollar will be a breakdown of the moving average area with a period of 55, as well as the lower border of the Bollinger Bands indicator bands and closing of the pair quotes below the 1.1300 area, which will indicate a change in trend in favor of bearish for EUR/USD. In case of a breakdown of the upper border of the Bollinger Bands indicator bands, one should expect an acceleration of growth.

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