Trend analysis
EUR/USD may continue moving downward this week, from the level of 1.0852 (closing price of the last weekly candle) to the support line at 1.0749 (bold blue line). The pair may rise after testing the line.
Fig. 1 (weekly chart)
Comprehensive analysis:
Indicator analysis - downward
Fibonacci levels - downward
Volumes - downward
Candlestick analysis - downward
Trend analysis - downward
Bollinger bands - downward
Monthly chart - downward
Conclusion: The indicators point to a downward movement in EUR/USD.
Overall conclusion: The pair will have a bearish trend, with no first upper shadow on the weekly black candle (Monday - downward) and a second lower shadow (Friday - upward).
Therefore, during the week, euro will fall from 1.0852 (closing price of the last weekly candle) to the support line at 1.0749 (bold blue line). The pair will rise upon testing the line.
Alternatively, euro will decline from 1.0852 (closing price of the last weekly candle) to the 50.0% retracement level of 1.0793 (yellow dashed line). It will turn around and move upward after testing the line.
