Currency pair EUR/USD is trading at 1.0204. Quotes of the pair are trading above the moving average with a period of 55. This indicates the presence of a bullish trend for the pair Euro/Dollar. At the moment, the quotes of the pair are moving near the middle border of the Bollinger Bands indicator bands.
EUR/USD forecast Euro Dollar on August 11, 2022
As part of the forecast for the Euro/Dollar pair, a test of the level of 1.0160 is expected. Where should we expect an attempt to continue the growth of the EUR/USD pair and further development of an upward trend. The target of this movement is the area near the level of 1.0290. The conservative area for buying the EUR/USD pair is located near the lower border of the Bollinger Bands indicator bands at the level of 1.0150.
Cancellation of the option to continue the growth of the Euro/Dollar pair will be a breakdown of the area of the lower border of the Bollinger Bands indicator bands. As well as a moving average with a period of 55 and closing quotes of the pair below the area of 1.0070. This will indicate a change in the current trend in favor of a bearish for EUR/USD. In the event of a breakdown of the upper border of the Bollinger Bands indicator bands, we should expect an acceleration of growth.
EUR/USD forecast Euro Dollar on August 11, 2022 suggests a test level of 1.0160. Further growth is expected to continue to the area above the level of 1.0290. . The conservative area for buying is located area of 1.0150. Cancellation of the growth option for the EUR/USD pair will be a breakdown of the level of 1.0070. In this case, we should expect the continuation of the fall.
