Currency pair EUR/USD is trading at 1.0475. Quotes of the pair are trading below the moving average with a period of 55. This indicates the presence of a bearish trend for the pair Euro/Dollar. At the moment, the pair’s quotes are moving near the upper border of the Bollinger Bands indicator bands.
EUR/USD forecast Euro Dollar on May 18, 2022
As part of the forecast for the Euro/Dollar pair, a test of the level of 1.0510 is expected. Where should we expect an attempt to continue the fall of the EUR/USD pair and further development of the downward trend. The target of this movement is the area near the level of 1.0300. The conservative area for selling the EUR/USD pair is located near the upper border of the Bollinger Bands indicator bands at the level of 1.0520.
Cancellation of the option to continue the fall of the Euro/Dollar pair will be a breakdown of the area of the upper border of the Bollinger Bands indicator bands. As well as a moving average with a period of 55 and the closing of the pair’s quotes above the 1.0620 area. This will indicate a change in the current trend in favor of the bullish for EUR/USD. In the event of a breakdown of the lower border of the Bollinger Bands indicator bands, we should expect an acceleration of the fall.
EUR/USD forecast Euro Dollar on May 18, 2022 suggests a test level of 1.0510. Further, it is expected to continue falling to the area below the level of 1.0300. The conservative selling area is located area of 1.0520. Cancellation of the EUR/USD pair fall option will be a breakdown of the level of 1.0620. In this case, we should expect continued growth.
