Currency pair Euro to US Dollar EUR/USD is trading at 1.1245. Quotations 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 to US Dollar EUR/USD. At the moment, quotes of the pair test the upper boundary of the bands of the indicator Bollinger Bands. It is expected to test the average border of the Bollinger Bands indicator near the level of 1.1160, where again we should expect an attempt to continue growth and further development of the bullish trend for the EUR/USD pair with the first target near the level 1.1290.
Analytics & prediction EUR/USD on May 23, 2017
An additional signal in favor of growth is the support area test. The conservative area for buy of the pair Euro to US Dollar EUR/USD is located near the lower border of the Bollinger Bands indicator strip at the level of 1.1080. 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, as well as a moving average with a level of 55 and the closing of the pair’s quotes below the area of 1.1010, indicating a change in the bearish trend for the Euro Dollar. In the event of a breakdown of the upper boundary of the Bollinger Bands, it is expected to accelerate the growth of the pair to an area above the level of 1.1290.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
