Trend analysis.
This week, the price from the level of 1.1846 (closing of the last weekly candle) may continue to move upwards with the target at 1.1917 - upper fractal (weekly candle from 09/06/2020). If you test this level, you can continue working up with the goal of 1.2010 - the next upper fractal (red dotted line). A pullback is possible from this line.
Figure: 1 (weekly chart).
Comprehensive analysis:
- indicator analysis - up;
- Fibonacci levels - up;
- volumes - up;
- candlestick analysis - neutral;
- trend analysis - up;
- Bollinger lines - up;
- monthly chart - up.
An upward movement can be concluded based on comprehensive analysis.
The general result of calculating the candlestick of the EUR/USD pair according to the weekly chart: the price this week is likely to have an upward trend, with no lower shadow in the weekly white candlestick (Monday - up) and the presence of a lower shadow (Friday - down).
The first upper target is 1.1917 - the upper fractal (weekly candle from 09/06/2020). If this level is tested, we can continue to work upwards with the target at 1.2010 - the next upper fractal (red dotted line).
An unlikely scenario: when moving up and reaching the upper fractal 1.1917 (weekly candle from 09/06/2020), the price is unlikely to start working down, with the target at 1.1685 - a pullback level of 23.6% (red dotted line).
