Trend analysis
The price from the level of 1.1592 (closing of the last weekly candle) may start rising this week to the target of 1.1665 – the pullback level of 14.6% (blue dashed line). After breaking this level upward, it may further rise to the target of 1.1728 – the pullback level of 23.6% (blue dotted line).
Figure (weekly chart)
Comprehensive analysis:
- Indicator analysis - up
- Fibonacci levels - up
- Volumes - up
- Candlestick analysis - up
- Trend analysis - up
- Bollinger lines - up
- Monthly chart - up
An upward movement can be concluded based on a comprehensive analysis.
The overall result of the candlestick calculation based on the weekly chart: the price will most likely move in an upward trend, without a lower shadow (Monday - up) and with an upper shadow (Friday - down) in the weekly white candlestick.
The price from the level of 1.1592 (closing of the last weekly candle) may begin to increase to the target of 1.1665 – the pullback level of 14.6% (blue dotted line). Once this level is broken up, the upward movement may resume to the target of 1.1728 – the pullback level of 23.6% (blue dotted line).
Alternatively, the price from the level of 1.1592 (closing of the last weekly candle) may continue to decline to be able to test the target level of 1.1512 – 161.8% (yellow dotted line). After reaching it, it may rise again to the target of 1.1666 – the pullback level of 14.6% (blue dashed line).
