Trend analysis
EUR/USD may move upwards this week, starting from the level of 1.0699 (closing of the last weekly candle) to the 23.6% retracement level of 1.0824 (red dashed line). After reaching this price, the pair will go towards the 38.2% retracement level of 1.0910 (red dashed line).
Fig. 1 (weekly chart)
Comprehensive analysis:
Indicator analysis - upward
Fibonacci levels - upward
Volumes - upward
Candlestick analysis - upward
Trend analysis - downward
Bollinger bands - downward
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 lower shadow (Friday - downward).
So during the week, euro will climb from 1.0699 (closing of the last weekly candle) to the 23.6% retracement level of 1.0824 (red dashed line), and then go to the 38.2% retracement level of 1.0910 (red dashed line).
Alternatively, it could climb from 1.0699 (closing of the last weekly candle) to the 23.6% retracement level of 1.0824 (red dashed line), followed by a pullback towards the historical support level of 1.0783 (blue dashed line).
