Currency pair EUR/USD is trading at 1.1589. 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. The test is expected to level 1.1550, from which we again expect an attempt to continue the growth and further development of the upward trend for the Euro/Dollar pair near the level of 1.1700.
EUR/USD forecast Euro Dollar on October 16, 2018
The conservative area for Euro/Dollar pair buying is near the lower border of the Bollinger Bands indicator strip at 1.1490. 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 quotes of the pair below the 1.1420 area, indicating a change in trend in favor of bearish EUR/USD. In case of a breakdown of the upper border of the Bollinger Bands indicator bands, one should expect an acceleration of growth.