EUR/USD forecast Euro Dollar on March 5, 2020

Currency pair EUR/USD is trading at 1.1159. 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 upper border of the Bollinger Bands indicator stripes.

EUR/USD forecast Euro Dollar on March 5, 2020

As part of the forecast, the Euro/Dollar pair is expected to test the level of 1.1110. Where can we expect an attempt to continue the growth of the EUR/USD pair and the further development of the upward trend. The purpose of this movement is the area near the level of 1.1320. The conservative buying area for the EUR/USD pair is located near the lower border of the Bollinger Bands indicator strip at 1.0990.

EUR/USD forecast Euro Dollar on March 5, 2020

Cancellation of the option to continue the growth of the Euro/Dollar pair will be a breakdown of the lower border of the Bollinger Bands indicator stripes. As well as the moving average with a period of 55 and the closing of quotations of the pair below the area of ​​1.0900. This will indicate a change in the current trend in favor of the bearish for EUR/USD. In case of breakdown of the upper border of the Bollinger Bands indicator strip, growth should be expected.

EUR/USD forecast Euro Dollar on March 5, 2020 suggests a test level of 1.1110. Further, growth is expected to continue to the area above the level of 1.1320. The conservative buying area is located is near the area of ​​1.0990. The cancellation of the growth option for the EUR/USD pair will be the breakdown of the level of 1.0900. In this case, we should expect continued fall.


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