EUR/USD weekly forecast on April 6 — 10, 2020

Currency pair EUR/USD is trading at 1.0806. 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 quotes of the pair are moving near the lower border of the Bollinger Bands indicator stripes.

EUR/USD weekly forecast on April 6 — 10, 2020

As part of the forecast, the Euro/Dollar pair is expected to test the level of 1.0990. Where can we expect an attempt to continue the fall of the EUR/USD pair and further development of the downward trend. The purpose of this movement is the area near the level of 1.0480. The conservative area for sales of the EUR/USD pair is located near the upper border of the Bollinger Bands indicator strip at 1.1410.

EUR/USD weekly forecast on April 6 — 10, 2020

Cancellation of the option to continue the fall of the Euro/Dollar pair will be a breakdown of the upper border of the Bollinger Bands indicator stripes. As well as the moving average with a period of 55 and closing of quotations of the pair above the 1.1500 area. This will indicate a change in the current trend in favor of the bullish for EUR/USD. In case of breakdown of the lower border of the Bollinger Bands indicator bands, we should expect an acceleration of the fall.

EUR/USD weekly forecast on April 6 — 10, 2020 suggests a test level of 1.0990. Further, it is expected to continue falling to the area below the level of 1.0480. The conservative sale area is located is near the area of ​​1.1410. The cancellation of the fall of the EUR/USD pair will be the breakdown of the level of 1.1500. In this case, we should expect continued growth.


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