The currency pair Euro to US Dollar EUR/USD is trading at the level of 1.0757. Quotes of the pair continue to trade 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 upper boundary of the bands of the indicator Bollinger Bands. It is expected to test the average border of the Bollinger Bands indicator bars near the level of 1.0700, where again we should expect an attempt to continue growth and further development of the upward trend for a pair of euros with the first target near the level of 1.0815.
Bollinger Bands forecast EUR/USD on April 21, 2017
The conservative buying area is located near the lower border of the Bollinger Bands indicator strip at the level of 1.0610. Canceling the option of continuing the growth of the EUR/USD pair will be a breakdown of the moving average region with a period of 55, as well as the lower border of the bands and the closing of the pair’s quotes below the area of 1.0565, indicating a change in the trend in favor of the bearish euro against the dollar. In the event of a breakdown of the upper boundary of the indicator bands, it is expected to accelerate the growth of the pair to an area above the level of 1.0815.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link