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Trend analysis
EUR/USD may decline this week, starting from the level of 1.1012 (closing price of the last weekly candle) to the 61.8% retracement level of 1.0959 (red dashed line). The pair may turn around and climb upward upon testing the level.
Fig. 1 (weekly chart)
Comprehensive analysis:
Indicator analysis - downward
Fibonacci levels - downward
Volumes - downward
Candlestick analysis - downward
Trend analysis - downward
Bollinger bands - upward
Monthly chart - upward
Conclusion: The indicators point to a downward movement in EUR/USD.
Overall conclusion: The pair will have a bearish trend, with no first upper shadow on the weekly black candle (Tuesday - downward) and a second lower shadow (Friday - upward).
Therefore, during the week, euro will fall from 1.1012 (closing price of the last weekly candle) to the 61.8% retracement level of 1.0959 (red dashed line), and then turn around and climb upward.
Alternatively, it could rise from 1.1012 (closing price of the last weekly candle) to the resistance line at 1.1095 (thin blue line), followed by a pullback to the upper fractal at 1.1040 (yellow dashed line).
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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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