The monthly trend is descending for the EUR / USD pair. The first lower target 1.1420 eith the retracement level of 38.2% (the blue dotted line) .For the GBP / USD, the monthly trend is upward with the upper target at the level of 1.3667 as the resistance line.
EUR / USD pair
Trend analysis (Figure 1)
The past week had a lateral trend. According to the technical analysis, the market worked out the top, and then went down because of the news. Next week, the price may continue to move down. A more complex analysis will more accurately determine where the price goes next.
Fig. 1 (weekly chart).
Indicator analysis on the weekly schedule (Figure 2).
The system of ADX indicators (Figure 2).
On the last run, the fast line (indicator 5 - white) and the slow line (indicator period 8 - blue) moved up. In this case, the trend should be determined by the trend type indicators.
MACD Indicator (period 5/8/13).
The linear part of the MACD indicator.
Fast line (signal) - a line of white color.
The slow line (main line) is the blue line.
The result of the MACD indicator is a downward trend (100 points down).
Histogram of the MACD indicator.
Histogram - columns of black color.
The result of the histogram of the MACD indicator is a downward trend (100 points down).
Overall: the MACD indicator on the weekly chart gives a downward trend.
Middle lines of the EMA.
On the weekly chart.
1 middle EMA line - color white (first shadow).
5 the middle line of the EMA - the color is red (the first shadow).
8 middle EMA line - the color is blue (trend of the week).
13 the middle line of the EMA - the color is the yellow (the trend of the week).
21 middle EMA line - brown color (trend of the week).
At the last run 8, the middle EMA line (blue) moved down which is above the 13th EMA midline (yellow) that also moved down with an upward signal.
At the last run 13, the middle EMA line (yellow) moved down which is above the 21 middle line of the EMA (black) that moved downward with the signal gained in the upper trend
The bottom line: the EMA mid-line system on the weekly chart gives an upward signal.
The probability distribution of the indicators is as follows:
- average EMA lines - 24% up;
- MACD indicator (linear part) - 38% down;
- MACD indicator (histogram) - 38% down.
Overall: on technical analysis: the price on the weekly chart should have a downward trend.
Calculation of the first shadow of the week (Monday) on a weekly chart.
The middle lines of the EMA 1/5/8 are the lower signal.
The indicator "three lines" (direction of the lines of indicators CCI (5), RSI (5), stochastics with a period of 3/3/4) on the last run is the bottom signal.
Calculation of the RSI indicator system for the first tail is the bottom signal.
The bottom line: a weekly candlestick calculation for indicator analysis showed that the price movement on Monday should be on the daily chart.
Calculation of the second shadow of the week (Friday).
The calculation for the MACD linear part - gave a downward trend (100 points down).
Calculation of the MACD histogram - gave a downward trend (100 points down).
The result: the calculation of technical analysis showed the price on the last day of the week.
Fig. 2 (weekly chart).
Complex analysis:
- indicator analysis - down;
- Fibonacci levels - down;
- volumes - down;
- candlestick analysis - up;
- trend analysis - up;
- Bollinger lines - up;
- monthly chart - down.
Conclusion on complex analysis - up.
The total of the result of the calculation of the candle in the EUR / USD currency pair on the weekly chart: the price of the week is likely to have an upward trend with the presence of the first a second upper shadow. The upper goal is the level of 1.1670.
GBP / USD pair
Trend analysis (Figure 1).
The past week had a general downward trend. The price went up after reaching the support line at 1.3135 (white thick line) but the upcoming transfer. Most likely, there will be an upward trend next week. The amount of probability of this scenario is likely to be shown by comprehensive analysis.
Fig. 1 (weekly chart).
Indicator analysis on the weekly schedule (Figure 2).
The system of indicators ADX (Figure 2).
On the last run, the fast line (indicator 5 - white) and the slow line (indicator period 8 - blue) moved down. In this case, the trend should be determined by indicators of the oscillator type.
Stochastic indicator (period 3/3/4) on the weekly chart gives an upward trend (Fig. 2).
The system of RSI indicators (Figure 2).
When working with the daily chart, the ones are the ones used in the RSI indicator system: 21 (brown), 8 (blue), 13 (yellow), 5 (red).
There is a closed candle on the last day.
The property calculation of the RSI indicator (5) gives an upward trend.
The property calculation of the RSI indicator (8) gives an upward trend.
The bottom line: the RSI indicator system gives an upward trend.
The calculation of the CCI.
The bottom line: the CCI indicator system gives a downward trend.
The grand total: according to the indicator.
Calculation of the first shadow of the week (Monday) on a weekly chart.
The middle lines of the EMA 1/5/8 are the lower signal.
The indicator "three lines" (the direction of the lines of the RSI indicators (5), RSI (5), stochastics with a period of 3/3/4) is a neutral signal.
The calculation of the RSI indicator system.
The bottom line: the calculation of the weekly candle on technical analysis showed that on Monday there will be a lower trend.
Calculation of the second shadow of the week (Friday).
The calculation for the MACD linear part - gave a downward trend (100 points down).
Calculation of the MACD histogram - gave a downward trend (100 points down).
The bottom line: the calculation of the last day of the week on technical analysis showed that there will be a lower trend on the daily schedule.
Fig. 2 (weekly chart).
Complex analysis:
- Indicator analysis - up;
- Fibonacci levels - down;
- volumes - upwards;
- candlestick analysis - up;
- trend analysis - up;
- Bollinger lines - up;
- monthly graph - up.
Conclusion on the complex.
According to the weekly chart, the total of the GBP / USD currency pair candlestick calculation is as follows: the price of the second upper shadow. The first target is the level of 1.3320.
