trend analysis
EUR/USD will attempt to move up this week, from 1.0426 (closing of the last weekly candle) to 1.0514 - the 14.6% retracement level (red dotted line). After that the price will continue to go up to 1.0619, which is the 23.6% retracement level (red dotted line)
Fig. 1 (weekly 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 no first lower shadow on the weekly white candle (Monday - up) and no second upper shadow (Friday - up).
During the week, the quote will climb from 1.0426 (closing of the last weekly candle) to the 14.6% retracement level at 1.0514 (red dotted line), then go to the 23.6% retracement level at 1.0619 (red dotted line)
Alternatively, the pair could move up from 1.0426 (closing of the last weekly candle) to the 14.6% retracement level at 1.0514 (red dotted line), then bounce back to the support level at 1.0356 (thick blue line). The upward trend will resume after that.
