Currency pair EUR/USD is trading at 1.1802. 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 are moving near the middle border of the Bollinger Bands indicator bars. A test of the level of 1.1790 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 1.1910.
EUR/USD forecast Euro Dollar on October 23, 2017
The conservative area for Euro/Dollar pair buying is near the lower border of the Bollinger Bands indicator bands at 1.1730. 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 area of 1.1710, which indicates a change in the trend in favor of the bearish for 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.