Trend analysis
EUR/USD may continue its upward movement this week, rising from the level of 1.0893 (closing price of the last weekly candle) to the 61.8% retracement level of 1.0959 (red dashed line). The pair may climb further upon testing the price.
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 no second upper shadow (Friday - upward).
Therefore, during the week, euro will rise from 1.0893 (closing price of the last weekly candle) to the 61.8% retracement level of 1.0959 (red dashed line), and then climb further to the upper fractal at 1.1017 (yellow dashed line).
Alternatively, it could move upward from 1.0893 (closing price of the last weekly candle) to the 50% retracement level of 1.0959 (red dashed line), followed by a pullback downwards.
