Trend analysis
EUR/USD is likely to continue its upward movement this week, rising from 1.0666 (closing of the last weekly candle) to 1.0774, which is the 50.0% retracement level (red dotted line). Upon reaching this price, the pair will climb further to 1.0879, which is a historical resistance level (blue 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 this points 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 no second upper shadow (Friday - up).
So during the week, euro will climb from 1.0666 (closing of the last weekly candle) to the 50.0% retracement level at 1.0774 (red dotted line), and then rise further to the historical resistance level at 1.0879 (blue dotted line).
Alternatively, the quote may jump from 1.0666 (closing of the last weekly candle) to the 50.0% retracement level at 1.0774 (red dotted line), and then fall down to the support line at 1.0668 (blue bold line).
