Trend analysis
EUR/USD will increase this July, from 1.0482 (closing of the June monthly candle) to 1.0640 - the 14.6% retracement level (red dotted line). Upon reaching it, the pair will go to 1.0820, which is the 23.6% retracement level (red dotted line), then turn down again.
Fig. 1 (monthly chart)
Comprehensive analysis:
Indicator analysis - uptrend
Fibonacci levels - uptrend
Volumes - uptrend
Candlestick analysis - uptrend
Trend analysis - uptrend
Bollinger bands - 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 monthly white candle (the first week of the month is white) and no second upper shadow (the last week is white).
And throughout the month, the pair will climb from 1.0482 (the closing of the June monthly candle) to the 14.6% retracement level at 1.0640 (red dotted line), move to the 23.6% retracement level at 1.0820 (red dotted line), then turn down again.
Alternatively, the quote could decline from 1.0482 (the closing of the June monthly candle) to the historical support level at 1.0339 (blue dotted line), then bounce back to the 14.6% retracement level at 1.0640 (red dotted line).
