trend analysis
EUR/USD will attempt to move down this week, from 1.0734 (closing of the last weekly candle) to 1.0665, the 23.6% retracement level (yellow dotted line). Then, it will bounce and move up again.
Fig. 1 (weekly chart)
comprehensive analysis:
Indicator analysis - downtrend
Fibonacci levels - downtrend
volumes - downtrend
Candlestick analysis - uptrend
Trend analysis - uptrend
Bollinger bands - uptrend
Monthly chart - uptrend
All this points to a downward movement in EUR/USD.
Conclusion: The pair will have a downward trend, with no first upper shadow on the weekly black candle (Monday - down) and a second lower shadow (Friday - up).
And during the week, the price will decline from 1.0734 (closing of the last weekly candle) to the 23.6% retracement level at 1.0665 (yellow dotted line), then bounce up.
Alternatively, the quote could attempt to move down from 1.0734 (closing of the last weekly candle) to the 14.6% retracement level at 1.0703 (yellow dotted line), then bounce up.
