Trend analysis
EUR/USD quotes will increase this week, starting from 1.0042 (closing of the last weekly candle) to 1.0224, which is the 38.2% retracement level (yellow dotted line). Then, it will move to the 50.0% retracement level at 1.0325 (yellow dotted line), before going down to the 13 EMA at 1.0181 (yellow thin line).
Fig. 1 (weekly 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 a bullish trend, with no first lower shadow on the weekly white candle (Monday - up) and no second upper shadow (Friday - up).
So during the week, euro will rise from 1.0042 (closing of the last weekly candle) to the 38.2% retracement level at 1.0224 (yellow dotted line), go to the 50.0% retracement level at 1.0325 (yellow dotted line), then fall back to the 13 EMA at 1.0181 (yellow thin line).
Alternatively, quotes could climb from 1.0042 (closing of the last weekly candle) to the 38.2% retracement level at 1.0224 (yellow dotted line), then go to the 161.8% retracement level at 1.0079 (dashed blue line). Further upward move is possible from this level.
