trend analysis
EUR/USD is likely to continue its upward momentum this week, rising from the level of 1.0855 (closing of the last weekly candle) to the resistance level of 1.0927 (thick blue line). But once this price is reached, the pair will bounce back to the 5 EMA at 1.0798 (thin red line).
Fig. 1 (weekly chart)
comprehensive analysis:
Indicator analysis - downtrend
Fibonacci levels - downtrend
volumes - downtrend
Candlestick analysis - downtrend
Trend analysis - downtrend
Bollinger bands - uptrend
Monthly chart - uptrend
All these point to a downward movement in EUR/USD.
Conclusion: The pair will have a bearish trend, with a first upper shadow on the weekly black candle (Monday -up) and no second lower shadow (Friday - down).
So during the week, euro will climb from 1.0855 (closing of the last weekly candle) to the resistance level of 1.0927 (thick blue line), then bounce back to the 5 EMA at 1.0798 (thin red line).
Alternatively, the quote could rise from 1.0855 (closing of the last weekly candle) to the 76.4% retracement level at 1.1032 (yellow dotted line), then resume a downward movement.
