The currency pair Euro Dollar EUR/USD is trading at 1.0724. 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 bars of the indicator Bollinger Bands. It is expected to test the lower 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 in the euro-dollar pair with the first target near the level of 1.0790.
Bollinger Bands forecast EUR/USD on April 24, 2017
The conservative buying area is located near the lower border of the Bollinger Bands indicator strip at the level of 1.0700. Canceling the option of continuing the growth of the EUR/USD pair will be a breakdown of the lower border of the bands, as well as a moving average with a level of 55 and the closing of quotations of the pair below the area of 1.0640, which indicates a change in the trend in favor of bearish euros dollar. In the event of a breakdown of the upper boundary of the indicator strip, it is expected to accelerate the growth of the pair to an area above the level of 1.0790.
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