Trend analysis (Figure 1).
The price moved down and closed very near from the support line, and there is no doubt that this level (1.1538) will reach the market next week. The probability of beating off the fourth touch point is to work on the support line with 70%/30% chance.
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 in calculating the candle of the 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 of 1.1538 is the support line (white line), after which an upper movement is possible.
