trend analysis
EUR/USD will attempt to extend its rally this week, moving up from 1.1050 (closing of the last weekly candle) to 1.1150, the 23.6% retracement level (dashed blue line). Then, it will go further to the historical resistance level at 1.1305 (dashed blue line).
Fig. 1 (daily chart)
Comprehensive analysis:
Indicator analysis - uptrend
Fibonacci levels - uptrend
Volumes - uptrend
Candlestick analysis - uptrend
Trend analysis - uptrend
Bollinger bands - uptrend
Monthly chart - uptrend
All this points to an upward movement in EUR/USD.
Conclusion: The pair will have an upward trend, with a first lower shadow on the weekly white candle (Monday - down) and no second upper shadow (Friday - up).
And during the week, the price will climb from 1.1050 (closing of the last weekly candle) to the 23.6% retracement level at 1.1150 (dashed blue line), then go to the historical resistance level at 1.1305 (dashed blue line).
Alternatively, the quote could attempt to move down from 1.1050 (closing of the last weekly candle) to the historical support level at 1.0879 (dashed blue line), then bounce back to the 14.6% retracement level at 1.1020 (dashed blue line).
