Currency Pair Euro Dollar EUR/USD is trading at 1.0853. The pair continues to move 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 move between the upper and middle border of the Bollinger Bands indicator bars. It is worth to expect an attempt to reduce and test the moving average with a period of 55 near the level of 1.0800, where again we should expect an attempt to continue growth with the first goal near the level of 1.0915.
Bollinger Bands forecast EUR/USD on March 29, 2017
The conservative shopping area is located near the lower border of the Bollinger Bands indicator strip at the level of 1.0745. Canceling the option of continuing the growth of the EUR/USD pair will be the breakdown of the lower border area, as well as the moving average and the closing of the pair’s quotations below the area of 1.0700, which will indicate a trend change 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 1.0915.
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