The currency pair Euro to Dollar EUR/USD is trading at 1.0611. Quotes of the pair continue to trade below the moving average with a period of 55, indicating a bearish trend for the euro dollar. At the moment, quotes of the pair test the average border of the bars of the indicator Bollinger Bands. It is worth to expect an attempt to increase to the level of 1.0650, where again we should expect an attempt to continue falling with the first goal near the level of 1.0530.
Bollinger Bands EUR/USD forecast April 12, 2017
The conservative sales area is located near the upper boundary of the Bollinger Bands indicator strip at the level of 1.0670. The abolition of the continuation of the fall of the EUR/USD pair will be the breakdown of the upper border area, as well as the moving average and the closing of the pair’s quotations above the 1.0700 area, which will indicate a change in the trend in favor of the bullish dollar on the euro. In the event of a breakdown of the lower boundary of the indicator bands, it is expected to accelerate the fall of the pair into the area below the level of 1.0530.
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