Trend analysis
EUR/USD may continue moving upward this week, rising from 1.0776 (closing price of the last weekly candle) to the 50% retracement level of 1.0861 (red dashed line). The pair may go further up 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 - 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 a second upper shadow (Friday - downward).
Therefore, during the week, euro will climb from 1.0776 (closing price of the last weekly candle) to the 50% retracement level of 1.0861 (red dashed line). It will increase further after testing the level.
Alternatively, euro could rise from 1.0776 (closing price of the last weekly candle) to the 50% retracement level of 1.0861 (red dashed line), followed by a pullback downward.
