The currency pair Euro Dollar EUR/USD is trading at 1.0648. 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 lower boundary of the bands of the Bollinger Bands indicator. It is worth waiting for an attempt to test the average border of the indicator bars near the level of 1.0670, where again we should expect an attempt to continue falling with the first goal near the level of 1.0550.
Bollinger Bands EUR/USD Forecast on April 7, 2017
The conservative sales area is near the upper boundary of the Bollinger Bands indicator bars at 1.0680. Canceling the option of continuing the fall of the EUR/USD pair will be a breakdown of the upper border area, as well as the moving average and closing of the pair’s quotations above the area of 1.0720, which will indicate a change in the trend in favor of the bull on the euro dollar. 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 1.0550.
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