Trend analysis:
This week, the price will move up with the target at 1.0887 – a pullback level of 14.6% (blue dashed line). Upon reaching this level it is possible to continue the upper development with the target of 1.0923 – a pullback level of 23.6% (blue dashed line).
Fig. 1 (weekly schedule).
Comprehensive analysis:
– indicator analysis – up;
– Fibonacci levels – up;
– volumes – up;
– candlestick analysis – up;
– trend analysis – up;
– Bollinger Lines – down;
– monthly chart – up.
The conclusion of a comprehensive analysis is the upward movement.
The overall result of calculating the candle of the EUR / USD currency pair according to the weekly chart: the price of the week is likely to have an upward trend, with the absence of the first lower shadow of the weekly white candlestick (Monday – up) and the presence of the second upper shadow (Friday – down).
An unlikely lower scenario: a the movement downwards with the lower target of 1.0656 – the target level of 161.8% (red dashed line), from the historical support level of 1.0837 (blue dashed line).
The material has been provided by InstaForex Company – www.instaforex.com
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