Currency pair Euro Dollar EUR/USD is trading at 1.1297. 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 Euro/Dollar pair. At the moment, the pair quotes are moving near the lower border of the Bollinger Bands indicator bars.
EUR/USD weekly forecast on December 17 — 21, 2018
As part of the forecast of the pair Euro/Dollar is expected to test level of 1.1370. Where can we expect the attempt to continue the decline of the EUR/USD pair and further development of the downward trend. The purpose of this movement is the area near the level of 1.1080. The conservative area for sales of the EUR/USD pair is located near the upper border of the Bollinger Bands indicator strip at 1.1440.
Cancellation of the option to continue the fall of the Euro/Dollar pair will be a breakdown of the area of the upper boundary of the Bollinger Bands indicator bands. As well as the moving average with a period of 55 and the closing of quotations of the pair above 1.1500. This will indicate a change in the current trend in favor of the bullish on EUR/USD. In case of a breakdown of the lower border of the Bollinger Bands indicator bands, one should expect an acceleration of the fall.
EUR/USD weekly forecast on December 17 — 21, 2018 suggests a test level of 1.1370. Further, the continuation of falling to the area below the level of 1.1080 is expected. The conservative sale area is located is near the area of 1.1440. The cancellation of the EUR/USD pair fall option will be the breakdown of the level of 1.1500. In this case, we can expect continued growth.