EUR/USD weekly forecast on October 16 — October 20, 2017

Currency pair EUR/USD is trading at 1.1818. 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 test the average border of the bands of the indicator Bollinger Bands. A test of the level of 1.1750 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 1.2220.

EUR/USD weekly forecast on October 16 — October 20, 2017

EUR/USD weekly forecast on October 16 — October 20, 2017

The conservative area for Euro/Dollar pair buying is near the lower border of the Bollinger Bands indicator bands at 1.1660. Canceling the option of continuing the pair EUR/USD growth will be a breakdown of the lower border of the Bollinger Bands indicator strip, as well as a moving average with a level of 55 and the closing of the pair quotes below the area of ​​1.1530, indicating a change in the bearish trend 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.


Best Forex Brokers

Share This Post

Post Comment