Trend analysis (Figure 1).
The price moving downwards closed very near to the support line, and there is no doubt that the market will reach this level of 1.703 next week. The probability of beating off the fourth touch point of the support line is 70% to 30% to work up.
Fig. 2 (weekly chart).
Complex analysis:
- indicator analysis - down;
- Fibonacci levels - down (yellow dotted line);
- volumes - down;
- candlestick analysis - up;
- trend analysis - down;
- Bollinger lines - down;
- monthly chart - down.
Conclusion on complex analysis - down.
The total result of calculating the candle of EUR / USD currency pair on a weekly chart: the price of the week is likely to have a downward trend with the absence of the first upper shadow of the weekly black candle and the absence of the second lower shadow.
The first lower target is 1.1703 at the support lines (white thick line), after which the upper movement is possible.
