Trend analysis
EUR/USD may continue moving upwards this week, starting from the level of 1.0685 (closing price of the last weekly candle) to the 21 EMA at 1.0720 (black thin line). Upon reaching this price, the pair will go towards the 38.2% retracement level of 1.0783 (red dashed line).
Fig. 1 (weekly chart)
Comprehensive analysis:
Indicator analysis - upward
Fibonacci levels - upward
Volumes - upward
Candlestick analysis - upward
Trend analysis - upward
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 no second upper shadow (Friday - upward).
Therefore, during the week, euro will rise from 1.0685 (closing price of the last weekly candle) to the 21 EMA at 1.0720 (black thin line), and then go to the 38.2% retracement level of 1.0783 (red dashed line).
Alternatively, it could continue moving upwards from 1.0685 (closing price of the last weekly candle) to the 21 EMA at 1.0720 (black thin line), followed by a decline to the 23.6% retracement level of 1.0673 (red dashed line).
