Trend analysis
EUR/USD may start moving upward this week, starting from the level of 1.0871 (closing of the last weekly candle) to the 50% retracement level of 1.0945 (blue dotted line). Upon reaching this price, the pair will move towards the historical resistance level of 1.1093 (blue dotted line).
Fig. 1 (weekly chart)
Comprehensive analysis:
Indicator analysis - upward
Fibonacci levels - upward
Volumes - upward
Candlestick analysis - upward
Trend analysis - upward
Bollinger bands - upward
Monthly chart - upward
Conclusion: The indicators point to an upward movement in EUR/USD.
Overall conclusion: The pair will have a bullish trend, with no first lower shadow on the weekly white candle (Monday - upward) and a second upper shadow (Friday - downward).
So during the week, euro will climb from 1.0871 (closing of the last weekly candle) to the 50% retracement level of 1.0945 (blue dotted line), followed by a rise towards the historical resistance level of 1.1093 (blue dotted line).
Alternatively, the quote may fall from 1.0871 (closing of the last weekly candle) to the 23.6% retracement level of 1.0864 (red dotted line), followed by a rise towards the historical resistance level of 1.1093 (blue dotted line).
