Weekly review for the EUR / USD pair from 22nd to 27th of October 2018
October 22, 2018 9:22 am
After testing the support line of 1.1438 (white thin line) on the weekly chart, the price went up on Friday and this week, the upward movement will continue (the third point of contact of the support line gives a high probability of top work).
Trend analysis (Fig. 1).
To continue the upward trend, the price should break through the level of 1.1553 with the historical resistance level (white dotted line, dotted line). The next first target is 1.1622 on the upper fractal.
Fig. 2 (weekly schedule).
Comprehensive analysis:
– indicator analysis – down;
– Fibonacci levels – up (blue dotted line);
– volumes – up;
– candlestick analysis is neutral;
– trend analysis – up;
– Bollinger lines – down;
– monthly schedule – up.
Conclusion on complex analysis – up.
Calculate the weekly schedule.
The middle lines of the EMA 1/5/8 are the bottom signal.
The “three lines” indicator (the direction of the CCI (5), RSI (5), stochastic lines with a period of 3/3/4) on the last run is a neutral signal.
The calculation of the RSI indicator system for the first tail is up.
Result: According to the indicator analysis, the calculation of the weekly candlestick showed that on Monday, the price may have an upward trend which should be confirmed by the daily chart.
Calculate the second shadow of the week.
Calculation by MACD linear part – gave a downward trend (100 points down).
Calculation of the MACD histogram gave a downward trend (100 points down).
Bottom line: According to technical analysis, the calculation of the last day of the week showed that on Friday, the price may have a downward trend which should be confirmed by the daily chart.
The total result of the calculation of the EUR / USD currency pair candle on a weekly schedule: the price of the week is likely to have an upward trend with the absence of the first lower shadow for the weekly white candle (Monday is down) and the presence of the second upper shadow (Friday is down).
The closest upper target is 1.1553, which is the historical resistance level (white dotted-dashed line). The first target after this is 1.1622 on the upper fractal.
The material has been provided by InstaForex Company – www.instaforex.com
After testing the support line of 1.1438 (white thin line) on the weekly chart, the price went up on Friday and this week, the upward movement will continue (the third point of contact of the support line gives a high probability of top work).
Trend analysis (Fig. 1).
To continue the upward trend, the price should break through the level of 1.1553 with the historical resistance level (white dotted line, dotted line). The next first target is 1.1622 on the upper fractal.
Fig. 2 (weekly schedule).
Comprehensive analysis:
– indicator analysis – down;
– Fibonacci levels – up (blue dotted line);
– volumes – up;
– candlestick analysis is neutral;
– trend analysis – up;
– Bollinger lines – down;
– monthly schedule – up.
Conclusion on complex analysis – up.
Calculate the weekly schedule.
The middle lines of the EMA 1/5/8 are the bottom signal.
The “three lines” indicator (the direction of the CCI (5), RSI (5), stochastic lines with a period of 3/3/4) on the last run is a neutral signal.
The calculation of the RSI indicator system for the first tail is up.
Result: According to the indicator analysis, the calculation of the weekly candlestick showed that on Monday, the price may have an upward trend which should be confirmed by the daily chart.
Calculate the second shadow of the week.
Calculation by MACD linear part – gave a downward trend (100 points down).
Calculation of the MACD histogram gave a downward trend (100 points down).
Bottom line: According to technical analysis, the calculation of the last day of the week showed that on Friday, the price may have a downward trend which should be confirmed by the daily chart.
The total result of the calculation of the EUR / USD currency pair candle on a weekly schedule: the price of the week is likely to have an upward trend with the absence of the first lower shadow for the weekly white candle (Monday is down) and the presence of the second upper shadow (Friday is down).
The closest upper target is 1.1553, which is the historical resistance level (white dotted-dashed line). The first target after this is 1.1622 on the upper fractal.
The material has been provided by InstaForex Company – www.instaforex.com
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