Currency pair EUR/USD is trading at 0.9720. 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 lower border of the Bollinger Bands indicator bands.
EUR/USD forecast Euro Dollar on October 12, 2022
As part of the forecast for the Euro/Dollar pair, a test of the level of 0.9790 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 0.9560. 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 0.9890.
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 1.0000 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 October 12, 2022 suggests a test level of 0.9790. Further, it is expected to continue falling to the area below the level of 0.9560. The conservative selling area is located area of 0.9890. . Cancellation of the EUR/USD pair fall option will be a breakdown of the level of 1.0000. In this case, we should expect continued growth.
