Currency pair EUR/USD is trading at 1.1491. Quotes of the pair are trading below the moving average with a period of 55, which indicates the presence of a bearish trend for the Euro/Dollar. At the moment, the pair quotes are moving near the lower border of the Bollinger Bands indicator bands. A test of level 1.1650 is expected, from which one can expect an attempt to continue to fall and further develop the downward trend with a target near the level of 1.1070.
EUR/USD weekly forecast on October 8 — 12, 2018
The conservative sales area is located near the upper boundary of the Bollinger Bands indicator bars at 1.1810. Cancellation of the option to continue the fall of the EUR/USD pair will be a breakdown of the upper border of the Bollinger Bands indicator strip, as well as the moving average with a period of 55 and closing of the pair quotes above the 1.1850 area, which will indicate a change in trend in favor of the bullish 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.
