Currency pair EUR/USD is trading at 1.2255. 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, the quotes of the pair are moving near the lower border of the bands of the Bollinger Bands indicator. A test of the level of 1.2080 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 1.2740.
EUR/USD weekly forecast on February 12 — 16, 2018
The conservative area for Euro/Dollar pair buying is near the middle border of the Bollinger Bands indicator strip at 1.2100. Canceling the option of continuing the EUR/USD pair growth 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 quotes below the area of 1.1900, indicating 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.
