Trend analysis
This week, EUR/USD will continue its upward movement from the level of 1.0939 (closing price of the last weekly candle) to the 76.4% retracement level of 1.1089 (red dashed line), followed by a decline.
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).
Therefore, during the week, euro will rise from 1.0939 (closing price of the last weekly candle) to the 76.4% retracement level of 1.1089 (red dashed line), followed by a decline.
Alternatively, it could move upwards from 1.0939 (closing price of the last weekly candle) to the 76.4% retracement level of 1.1089 (red dashed line), and then go further to higher price levels.
