Currency pair EUR/USD is trading at 1.1758. Quotations of the pair are traded above the moving average with a period of 55, which indicates the existence of a bullish trend for the Euro/Dollar. At the moment, the quotes of the pair move near the upper border of the Bollinger Bands indicator bars. A slight correction is expected near the level of 1.1670, where again we should expect an attempt to continue growth and further development of the upward trend for the pair Euro/Dollar target near the level of 1.1900.
EUR/USD forecast Euro Dollar on August 1, 2017
The conservative area for Euro/Dollar pair buying is near the lower boundary of the Bollinger Bands indicator bars at 1.1625. Canceling the option of continuing the growth of the EUR/USD pair will be a breakdown of the lower border of the Bollinger Bands indicator bands, as well as a moving average with a level of 55 and the closing of the pair’s quotes below the area of 1.1550, which indicates a change in the trend in favor of the bearish Euro/Dollar. In the event of breakdown of the upper boundary of the bands of the indicator Bollinger Bands, one should expect an acceleration of growth.