Currency pair EUR/USD is trading at 1.2461. 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 middle border of the bands of the indicator Bollinger Bands. A test of the level of 1.2390 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 1.2650.
EUR/USD forecast Euro Dollar on February 5, 2018
The conservative area for Euro/Dollar pair buying is located near the lower border of the Bollinger Bands indicator bands at 1.2380. Canceling the option of continuing the growth of the EUR/USD pair will be a breakdown of the lower border area of the Bollinger Bands indicator bars, as well as a moving average with a level of 55 and the closing of the pair quotes below the 1.2270 area, indicating a change in the bearish trend for the 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.