There is an ascending channel from January 2017. The price went up after testing the support line of this channel 1.1511 (white thick line). Next week, the market may continue to move up, with the first goal of 1.1758 and a pullback rate of 23.6%.
Trend analysis (Figure 1).
On Tuesday, the price moved down reached the ascending trend of support line at 1.1539 then started moving up. As a rule, the third point of contact of the support line is a good starting point to increase with the probability of 70%. Next week, the upward movement will most likely continue.
Fig. 2 (weekly chart).
Complex analysis:
- Indicator analysis - up;
- Fibonacci levels - up (blue dotted line);
- volumes - upwards;
- candlestick analysis - up;
- trend analysis - up;
- Bollinger lines - up;
- monthly chart - down.
Conclusion on the complex analysis is an upward movement.
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 an upward trend with the absence of the first lower shadow of a weekly white candle and the absence of a second upper shadow.
The first top target of 1.1558 is the rolling level of 23.6% (blue dotted line).
