For the EUR / USD pair, the monthly trend is upward. The first upper target will be that 50.0% rollback level on the monthly chart where a downward movement is possible towards 1.2169.
For the GBP / USD pair, the monthly trend is upward. The upper target is the resistance line, which is possible to move down to 1.3940.
EUR / USD pair
Trend analysis (Figure 1).
There is a weak upward trend in the previous week. Next week, the price may go back down towards the first recoil level of 23.6% at 1.1963. A more complex analysis will accurately determine where the price will go 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 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 for the linear part of the MACD indicator is an upward trend (100 points up).
Histogram of the MACD indicator.
Histogram - columns of black color.
The result of the histogram of the MACD indicator is an upward trend (100 points up).
The grand total: the MACD indicator on the weekly chart gives an upward trend.
Middle lines of the EMA.
On the weekly chart, the following midlines are used.
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 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) moving upwards is above the 13th EMA midline (yellow), which also moved up since the signal is upward
At the last run 13, the middle EMA line (yellow) moving upwards is above the 21 middle line of the EMA (black), which moved upward that signals gain of the upper channel
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% up;
- MACD indicator (histogram) - 38% up.
The total: on technical analysis: the price on the weekly chart should have an upward trend.
Calculation of the first shadow of the week (Monday) on a weekly chart.
Middle lines EMA 1/5/8 - the upper signal.
The "three lines" o f the indicator (the direction of the lines of indicators CCI (5), RSI (5), stochastics with a period of 3/3/4) on the last run is a neutral signal.
Calculation of the RSI indicator system for the first tail is the bottom signal.
The bottom line: the calculation of the weekly candle on the indicator analysis showed that on Monday the price may have a downward trend, which should be confirmed by the daily chart.
Calculation of the second shadow of the week (Friday).
The calculation for the MACD linear part - gave an upward trend (100 points up).
Calculation of the MACD histogram - gave an upward trend (100 points up).
Result: the calculation of the last day of the week for technical analysis on Friday showed that the price may have an upward trend, which should be confirmed by the daily chart.
Fig. 2 (weekly chart).
Complex analysis:
- Indicator analysis - up;
- Fibonacci levels - down (yellow dotted lines);
- volumes - down;
- candle analysis - down;
- trend analysis - up;
- Bollinger lines - up;
- monthly graph - up.
Conclusion on complex analysis - down.
The total result of calculating the candle of the EUR/USD currency pair on the weekly chart: the price for the week is likely to have a downward trend with no first shadow in the weekly black candle and the absence of a second lower shadow. The first target is the recession level of 23.6% (1.1963).
GBP / USD pair
Trend analysis (Figure 1).
There is upward trend in the past week. Next week, there will most likely be a continuation of the upward trend. How much is the probability of this scenario will show in a complex analysis.
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) moved down, and the slow line (indicator period 8 - blue) moved upward. In this case, the trend should be determined by 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 for the linear part of the MACD indicator is an upward trend (100 points up).
Histogram of the MACD indicator.
Histogram - columns of black color.
The result of the histogram of the MACD indicator is an upward trend (100 points up).
The grand total: the MACD indicator on the weekly chart gives an upward trend.
Middle lines of the EMA.
On the weekly chart, the following midlines are used.
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 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) moving upwards is above the 13th EMA midline (yellow), which also moved up since the signal is upward.
At the last run 13, the middle EMA line (yellow) moving upward is above the 21 middle line of the EMA (black), which moved upward which signals gain of the upper channel.
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% up;
- MACD indicator (histogram) - 38% up.
The total: on technical analysis: the price on the weekly chart should have an upward trend.
Calculation of the first shadow of the week (Monday) on a weekly chart.
Middle lines EMA 1/5/8 - the upper signal.
The indicator "three lines" (the direction of the indicator lines CCI (5), RSI (5), stochastic with a period of 3/3/4) on the last run is the upper signal.
The calculation of the RSI indicator system for the first tail is not needed.
The bottom line: the calculation of a weekly candle for indicator analysis showed that on Monday the price may have an upward trend, which should be confirmed by the daily chart.
Calculation of the second shadow of the week (Friday).
The calculation for the MACD linear part - gave an upward trend (100 points up).
Calculation of the MACD histogram - gave an upward trend (100 points up).
Result: the calculation of the last day of the week on Friday for technical analysis showed that the price may have an upward trend, which should be confirmed by the daily chart.
Fig. 2 (weekly chart).
Complex analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- volumes are neutral;
- candle analysis - neutral;
- trend analysis - up;
- Bollinger lines - up;
- monthly graph - up.
Conclusion on the complex analysis is an upward movement.
The total result of calculating the candle of the GBP / USD currency pair on a weekly chart: the price for weeks is likely to have an upward trend with the absence of the first lower shadow of the weekly white candle and the absence of the second upper shadow with the target of target 1.3655.
