FX.co ★ Technical Analysis for the Week of February 24-28: EUR/USD

Trend Analysis (Fig. 1)This week, the market may rise from 1.0459 (last week's closing price) toward 1.0573, which represents the 38.2% retracement level (yellow dotted line). If this level is tested, the price could continue its upward movement toward 1.0597, a historical resistance level (blue dotted line).

Comprehensive Analysis

• Indicator Analysis: Bullish
• Fibonacci Levels: Bullish
• Volume Analysis: Bullish
• Candlestick Analysis: Bullish
• Trend Analysis: Bullish
• Bollinger Bands: Bullish
• Monthly Chart Outlook: Bullish

Conclusion: Uptrend Expected

Based on comprehensive analysis, the EUR/USD pair is expected to maintain an upward trajectory throughout the week. The projected weekly candle is likely to form without a lower shadow (indicating an upward Monday movement) but may develop an upper shadow by Friday, signaling a possible pullback.

Alternative Scenario

If the pair rises from 1.0459 to 1.0532 (upper fractal, blue dotted line), it may then reverse downward toward 1.0480, which corresponds to the 14.6% Fibonacci retracement level (blue dotted line).