Trend analysis (Fig. 1)
EUR/USD is likely to increase from 1.0811 (closing of the last weekly candle) to 1.0864, which is the 14.6% retracement level (red dotted line). Upon reaching it, the pair will move to the 23.6% retracement level at 1.1125 (red dotted line).
Fig. 1 (daily chart)
Comprehensive analysis:
Indicator analysis - uptrend
Fibonacci levels - uptrend
Volumes - uptrend
Candlestick analysis - uptrend
Trend analysis - uptrend
Bollinger bands - downtrend
Monthly chart - uptrend
All this points to an upward movement in EUR/USD.
Conclusion: The pair will have an upward trend, with no first lower shadow on the weekly white candle (Monday - uptrend) and a second upper shadow (Friday - downtrend).
And throughout the week, the pair will rise from 1.0811 (closing of the last weekly candle) to the 14.6% retracement level at 1.0864 (red dotted line), then go to the 23.6% retracement level at 1.1125 (red dotted line).
Alternatively, the pair could fall from 1.0811 (closing of the last weekly candle) to the support line at 1.0733 (white thick line), then bounce up to the 14.6% retracement level at 1.0864 (red dotted line).
