FX.co ★ EUR/USD. Technical Analysis for the Week of November 10–15

Trend Analysis (Fig. 1)This week, the market may begin moving downward from the level of 1.1563 (the closing price of the last weekly candle), targeting 1.1391 — the 61.8% retracement level (blue dotted line). Upon testing this level, the price may rebound upward toward 1.1488 — a historical resistance level (light blue dotted line).

Fig. 1 (Weekly Chart)

Comprehensive Analysis:

• Indicator analysis — downward
• Fibonacci levels — downward
• Volume analysis — downward
• Candlestick analysis — downward
• Trend analysis — downward
• Bollinger Bands — downward
• Monthly chart — downward

Conclusion from the comprehensive analysis: Downward movement.

Overall Summary for the Weekly Candle of EUR/USD:

During the week, the price will most likely show a downward trend, with no upper shadow on the weekly black candle (Monday — downward movement) and the presence of a lower shadow (Friday — upward movement).

Alternative Scenario:

From the level of 1.1563 (the closing price of the last weekly candle), the pair may begin moving downward toward 1.1266 — the 76.4% retracement level (blue dotted line). Upon testing this level, the price may rebound upward toward 1.1391 — the 61.8% retracement level (blue dotted line).