Currency pair EUR/USD is trading at 1.1391. Quotes of the pair are trading below the moving average with a period of 55, indicating a bearish trend for the Euro/Dollar. At the moment, the quotes of the pair are moving near the lower border of the bands of the Bollinger Bands indicator. A test of level 1.1560 is expected, from which one should expect an attempt to continue the fall and further development of a downward trend with a target near the level of 1.0810.
EUR/USD weekly forecast on August 20 — 24, 2018
The conservative sales area is located near the upper boundary of the Bollinger Bands indicator bars at 1.1820. The abolition of the continuation of the fall of the EUR/USD pair will be a breakdown of the upper range of the Bollinger Bands indicator bands, as well as a moving average with a period of 55 and the closing of the pair quotes above 1.2050, which indicates a change in the bullish trend for EUR/USD. In the event of a breakdown of the lower boundary of the bands of the Bollinger Bands indicator, it is expected to accelerate the fall.
