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
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.