Trend analysis
EUR/USD quotes are likely to decline this week, starting from the level of 1.0368 (closing of the last weekly candle) to 1.0270, which is the 14.6% retracement level (dashed blue line). Then, it will bounce up to higher price levels.
Fig. 1 (weekly chart)
Comprehensive analysis:
Indicator analysis - downtrend
Fibonacci levels - downtrend
Volumes - downtrend
Candlestick analysis - downtrend
Trend analysis - uptrend
Bollinger bands - downtrend
Monthly chart - uptrend
All this points to a downward movement in EUR/USD.
Conclusion: The pair will have a bearish trend, with no first upper shadow on the weekly black candle (Monday - down) and a second lower shadow (Friday - up).
So during the week, euro will fall from 1.0368 (closing of the last weekly candle) to the 14.6% retracement level at 1.0270 (dashed blue line), then bounce up to higher price levels.
Alternatively, quotes could dip from 1.0368 (closing of the last weekly candle) to the 23.6% retracement level at 1.0213 (dashed blue line), then bounce up to higher price levels.
