Currency pair EUR/USD is trading at 1.2443. Quotes 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, quotes of the pair move near the upper border of the bands of the Bollinger Bands indicator. A test of the level of 1.2360 is expected, where again we should expect an attempt to continue growth and further development of the upward trend for the pair Euro/Dollar near the level of 1.2590.
EUR/USD forecast Euro Dollar on February 1, 2018
The conservative area for Euro/Dollar pair buying is located near the lower border of the Bollinger Bands indicator bands at 1.2350. Canceling the option of continuing the growth of the pair Euro/Dollar will be a breakdown of the moving average region with a period of 55, as well as the lower boundary of the Bollinger Bands indicator bars and the closing of the pair quotes below the 1.2260 area, indicating a change in the bearish trend for EUR/USD. In the event of breakdown of the upper boundary of the bands of the indicator Bollinger Bands, one should expect an acceleration of growth.
