Weekly review from October 8 to 13 2018 for the EUR/USD pair
October 8, 2018 7:21 am
Trend analysis (Fig. 1).
This week, the market may continue to move upwards again. The nearest target 1.1553 is a record resistance level (white dash dotted line). To continue the upward trend, the price must overcome this level. Otherwise, it will go down in the side channel to the level of 1.1478 – the support line (white dotted line) and only then an upper movement.
Fig. 2 (weekly schedule).
Comprehensive analysis:
– indicator analysis – up;
– Fibonacci levels – up (blue dotted line);
– volumes – down;
– candlestick analysis is neutral;
– trend analysis – up;
– Bollinger lines – down;
– monthly schedule – up.
Conclusion on complex analysis – up.
Calculation of the first shadow of the week (Monday) on the weekly chart.
The middle line EMA 1/5/8 – bottom signal.
The “three lines” indicator (the direction of the indicator lines RSI(5), RSI (5), stochastic with a period of 3/3/4) on the last run – the lower signal.
The calculation of the RSI indicator system for the first tail is down.
The result: the calculation of the weekly candlestick according to the indicator analysis showed that on Monday the price may have a downward trend, which should be confirmed by the daily chart.
Calculation of the second shadow of the week (Friday).
The calculation of the MACD linear part– gave an upward trend (100 points up).
The calculation of the MACD histogram – gave an upward trend (100 points up).
Bottom line: the calculation of the last day of the week according to technical analysis showed that on Friday the price may have an upward trend, which should be confirmed by the daily chart.
The overall result of the calculation of the candles of the EUR/USD currency pair on the 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 (Monday – down) and the absence of the second upper shadow (Friday – up).
The nearest upper target 1.1553 is the historical resistance level (white dash dotted line).
The material has been provided by InstaForex Company – www.instaforex.com
Trend analysis (Fig. 1).
This week, the market may continue to move upwards again. The nearest target 1.1553 is a record resistance level (white dash dotted line). To continue the upward trend, the price must overcome this level. Otherwise, it will go down in the side channel to the level of 1.1478 – the support line (white dotted line) and only then an upper movement.
Fig. 2 (weekly schedule).
Comprehensive analysis:
– indicator analysis – up;
– Fibonacci levels – up (blue dotted line);
– volumes – down;
– candlestick analysis is neutral;
– trend analysis – up;
– Bollinger lines – down;
– monthly schedule – up.
Conclusion on complex analysis – up.
Calculation of the first shadow of the week (Monday) on the weekly chart.
The middle line EMA 1/5/8 – bottom signal.
The “three lines” indicator (the direction of the indicator lines RSI(5), RSI (5), stochastic with a period of 3/3/4) on the last run – the lower signal.
The calculation of the RSI indicator system for the first tail is down.
The result: the calculation of the weekly candlestick according to the indicator analysis showed that on Monday the price may have a downward trend, which should be confirmed by the daily chart.
Calculation of the second shadow of the week (Friday).
The calculation of the MACD linear part– gave an upward trend (100 points up).
The calculation of the MACD histogram – gave an upward trend (100 points up).
Bottom line: the calculation of the last day of the week according to technical analysis showed that on Friday the price may have an upward trend, which should be confirmed by the daily chart.
The overall result of the calculation of the candles of the EUR/USD currency pair on the 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 (Monday – down) and the absence of the second upper shadow (Friday – up).
The nearest upper target 1.1553 is the historical resistance level (white dash dotted line).
The material has been provided by InstaForex Company – www.instaforex.com
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