trend analysis
EUR/USD may start moving downwards this week from the level of 1.0867 (closing of the last weekly candle) to the 14.6% retracement level of 1.0725 (blue dotted line). But once this price is reached, the pair will resume its upward movement.
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 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 no second lower shadow (Friday - down).
So during the week, euro will fall from 1.0867 (closing of the last weekly candle) to the 14.6% retracement level of 1.0725 (blue dotted line), then bounce back to higher price levels.
Alternatively, the quote may dip from 1.0867 (closing of the last weekly candle) to the 23.6% retracement level of 1.0599 (blue dotted line), and then resume an upward movement.
