Trend analysis
EUR/USD may start moving upward this week, from the level of 1.0941 (closing price of the last weekly candle) to the 14.6% retracement level of 1.1038 (yellow dashed line). It may continue rising after testing the level.
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 1.0941 (closing price of the last weekly candle) to the 14.6% retracement level of 1.1038 (yellow dashed line), and then go further up after testing the level.
Alternatively, it could decline from 1.0941 (closing price of the last weekly candle) to the 8 EMA at 1.0914 (thin blue line), followed by an upward movement.
