EUR/USD may retain a bull market in July, rising from the level of 1.0909 (closing of the June monthly candle) to the upper fractal located at 1.1095 (yellow dotted line). It will be followed by further growth to the 61.8% retracement level at 1.1273 (red dotted line).
Fig. 1 (monthly chart)
Comprehensive analysis:
Indicator analysis – uptrend
Fibonacci levels – uptrend
Volumes – uptrend
Candlestick analysis – uptrend
Trend analysis – uptrend
Bollinger bands – uptrend
Conclusion: All signals point to an upward movement in EUR/USD.
Overall conclusion: The pair will have a bullish trend, with a first lower shadow on the monthly white candle (the first week of the month is black) and no second upper shadow (the last week is white).
Throughout the month, quotes will rise from 1.0909 (closing of the June monthly candle) to the upper fractal at 1.1095 (yellow dotted line), and then move further towards the 61.8% retracement level at 1.1273 (red dotted line).
Alternatively, euro could climb from 1.0909 (closing of the June monthly candle) to the upper fractal located at 1.1095 (yellow dotted line), followed by a decline to the 50.0% retracement level at 1.1041 (red dotted line).
The material has been provided by InstaForex Company – www.instaforex.com
Trend analysis:
EUR/USD may retain a bull market in July, rising from the level of 1.0909 (closing of the June monthly candle) to the upper fractal located at 1.1095 (yellow dotted line). It will be followed by further growth to the 61.8% retracement level at 1.1273 (red dotted line).
Fig. 1 (monthly chart)
Comprehensive analysis:
Indicator analysis – uptrend
Fibonacci levels – uptrend
Volumes – uptrend
Candlestick analysis – uptrend
Trend analysis – uptrend
Bollinger bands – uptrend
Conclusion: All signals point to an upward movement in EUR/USD.
Overall conclusion: The pair will have a bullish trend, with a first lower shadow on the monthly white candle (the first week of the month is black) and no second upper shadow (the last week is white).
Throughout the month, quotes will rise from 1.0909 (closing of the June monthly candle) to the upper fractal at 1.1095 (yellow dotted line), and then move further towards the 61.8% retracement level at 1.1273 (red dotted line).
Alternatively, euro could climb from 1.0909 (closing of the June monthly candle) to the upper fractal located at 1.1095 (yellow dotted line), followed by a decline to the 50.0% retracement level at 1.1041 (red dotted line).
The material has been provided by InstaForex Company – www.instaforex.com
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