Weekly review from May 14 to May 19, 2018 for the EUR/USD pair
May 14, 2018 8:22 am
Trend analysis (Figure 1).
The price, moving downwards, tested, but closed above the recession level of 61.8% 1.1937 (red dotted line), on large volumes, which indicates the possibility of starting the movement upwards. The more complex analysis will show more accurately where the price goes. The most likely upper target is 1.2055, the rollback level is 50.0% (yellow dotted line).
Fig. 2 (weekly chart).
Complex analysis:
– indicator analysis – down;
– Fibonacci levels – up (red dotted line);
– volumes – upwards;
– candlestick analysis – up;
– trend analysis – down;
– Bollinger lines – down;
– monthly chart – down.
Conclusion on complex analysis – up.
The total result of the estimate of the candle currency EUR/USD pair on a weekly chart: the price of the week is likely to have an upward trend with the presence of the first lower shadow of the weekly white candle and the presence of a second upper shadow.
The first top target of 1.1996 is the retracement level of 23.6% (yellow dotted line).
The material has been provided by InstaForex Company – www.instaforex.com
Trend analysis (Figure 1).
The price, moving downwards, tested, but closed above the recession level of 61.8% 1.1937 (red dotted line), on large volumes, which indicates the possibility of starting the movement upwards. The more complex analysis will show more accurately where the price goes. The most likely upper target is 1.2055, the rollback level is 50.0% (yellow dotted line).
Fig. 2 (weekly chart).
Complex analysis:
– indicator analysis – down;
– Fibonacci levels – up (red dotted line);
– volumes – upwards;
– candlestick analysis – up;
– trend analysis – down;
– Bollinger lines – down;
– monthly chart – down.
Conclusion on complex analysis – up.
The total result of the estimate of the candle currency EUR/USD pair on a weekly chart: the price of the week is likely to have an upward trend with the presence of the first lower shadow of the weekly white candle and the presence of a second upper shadow.
The first top target of 1.1996 is the retracement level of 23.6% (yellow dotted line).
The material has been provided by InstaForex Company – www.instaforex.com
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