Trend analysis
EUR/USD is likely to continue its upward movement, rising from 1.0634 (closing of the last weekly candle) to the 61.8% retracement level at 1.0745 (red dotted line). Upon reaching this price, the pair will climb further to the 50.0% retracement level at 1.0784 (red dotted line).
Fig. 1 (weekly chart)
Comprehensive analysis:
Indicator analysis - uptrend
Fibonacci levels - uptrend
Volumes - uptrend
Candlestick analysis - uptrend
Trend analysis - uptrend
Bollinger bands - uptrend
Monthly chart - uptrend
All these point 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 a second upper shadow (Friday - down).
So during the week, euro will move from 1.0634 (closing of the last weekly candle) to the 61.8% retracement level at 1.0745 (red dotted line), and then rise further to the 50.0% retracement level at 1.0784 (red dotted line).
Alternatively, the quote may jump from 1.0634 (closing of the last weekly candle) to the 61.8% retracement level at 1.0745 (red dotted line), and then fall down to the support line at 1.0614 (blue bold line).
