Trend analysis
This week, the price from the level of 1.3396 (closing of the last weekly candle) is expected to surge to the target of 1.3509 – the resistance line (red bold line). After reaching it, it may decline to the target of 1.3441 – 13 middle EMA (yellow thin 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, both without the first lower shadow (Monday - up) and without the second upper shadow (Friday - up) in the weekly white candlestick.
The price from the level of 1.3396 (closing of the last weekly candle) will rise to the target of 1.3509 – the resistance line (red bold line) this week. Once this line is reached, it may decline to the target of 1.3441 – 13 middle EMA (yellow thin line).
As an alternative, the price from the level of 1.3396 (close of the last weekly candle) will fall to the target of 1.3301 – the pullback level of 50% (red dotted line). After reaching this level, it is likely to increase to the target of 1.3441 – the pullback level of 23.6% (yellow dotted line).
