Trend analysis
EUR/USD quotes will decrease this week, starting from 1.0014 (closing of the last weekly candle) to 0.9864, which is the lower fractal (yellow dotted line). Then, it will move to the 14.6% retracement level at 0.9987 (yellow dotted line) and to the 23.6% retracement level at 1.0080 (yellow dotted 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 a first lower shadow on the weekly white candle (Monday - down) and no second upper shadow (Friday - up).
So during the week, euro will fall from 1.0014 (closing of the last weekly candle) to the lower fractal at 0.9864 (yellow dotted line), then go to the 14.6% retracement level at 0.9987 (yellow dotted line) and 23.6% retracement level at 1.0080 (yellow dotted line).
Alternatively, quotes could drop from 1.0014 (closing of the last weekly candle) to the support line of the downward channel at 0.9804 (thick white line), then go to the 14.6% retracement level at 0.9987 (yellow dotted line). The upward movement may continue from this level.
