Trend analysis
This week, the price from the level of 1.3687 (closing of the last weekly candle) is expected to decline to the target of 1.3622 – the pullback level of 50.0% (blue dotted line). After this level is reached, it may continue to move upward to the target of 1.3729 – the pullback level of 23.6% (yellow dotted line).
Figure 1 (weekly chart)
Comprehensive analysis:
- Indicator analysis - down
- Fibonacci levels - down
- Volumes - down
- Candlestick analysis - down
- Trend analysis - down
- Bollinger lines - down
- Monthly chart - up
A downward 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 a downward trend without the first upper shadow (Monday - down) and with the second lower shadow (Friday - up) in the weekly black candlestick.
The price from the level of 1.3687 (closing of the last weekly candle) will fall to the target of 1.3622 – the pullback level of 50.0% (blue dotted line this week. After reaching it, growth may continue to the target of 1.3729 – the pullback level of 23.6% (yellow dotted line).
As an alternative, the price from the level of 1.3687 (closing of the last weekly candle) will rise to the target of 1.3729 – the pullback level of 38.2% (yellow dotted line). After that, it may continue its upward movement with the target of 1.3828 – the pullback level of 50.0% (yellow dotted line).
