Trend analysis.
The price from the level of 1.1427 (closing of the last weekly candle) can continue to move up this week, with the first target 1.1495 – the upper fractal. After reaching this level, we can continue to further work up with the next target at 1.1579 - historical resistance level (blue dotted line).
Fig. 1 (weekly schedule).
Comprehensive analysis:
- indicator analysis - up;
- Fibonacci levels - up;
- volumes - up;
- candlestick analysis - down;
- trend analysis - up;
- Bollinger lines - up;
- monthly chart - up.
The conclusion of a comprehensive analysis is an upward movement.
The general result of the calculation of the candlestick of the EUR/USD currency pair according to the weekly chart: the price will most likely have an upward trend for weeks, with the absence of a lower shadow in the weekly white candlestick (Monday - up) and the absence of a second upper shadow (Friday - up).
The first upper target 1.1495 is the upper fractal. Upon reaching this level,we can continue to further work up with the next target at 1.1579 - historical resistance level (blue dotted line).
An unlikely scenario: when moving up and reaching the level of 1.1495 (upper fractal), the price is unlikely to pullback down, with the first goal at 1.1369 - the pullback level is 14.6% (red dotted line).
