Trend analysis
This week, the price from the level of 1.3267 (close of the last weekly candle) is expected to surge to the target of 1.3347 – the pullback level of 14.6% (yellow dotted line). Once this level is reached, the upward trend may resume to the target of 1.3442 – the pullback level of 23.6% (yellow dotted line).
Figure 1 (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, with the first lower shadow (Monday - down) and without the second upper shadow (Friday - up) in the weekly white candlestick.
The price from the level of 1.3267 (close of the last weekly candle) will move up to the target of 1.3347 – the pullback level of 14.6% (yellow dotted line) this week. After reaching it, it may continue its growth to the target of 1.3442 – the pullback level of 23.6% (yellow dotted line).
As an alternative, the price from the level of 1.3267 (closing of the last weekly candle) will decline to the target of 1.3148 – support line (red bold line). After this line is reached, it may start rising to the target of 1.3347 – the pullback level of 14.6% (yellow dotted line).
