Currency pair EUR/USD is trading at 1.2458. 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 move near the upper border of the Bollinger Bands indicator bars. A test of the level of 1.2280 is expected, where again one should expect an attempt to continue growth and further develop the upward trend for the pair Euro/Dollar near the level of 1.2780.
EUR/USD weekly forecast on January 29 — February 2, 2018
The conservative area for Euro/Dollar pair buying is near the middle border of the Bollinger Bands indicator strip at the level of 1.2130. Canceling the option of continuing the growth of the EUR/USD pair will be a breakdown of the mid-range 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 1.1880, 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.