Trend analysis
This week, the price from the level of 1.3856 (closing of the last weekly candle) will rise to the target of 1.3911 – the pullback level of 50.0% (yellow dotted line) after a small downward pullback to the level of 1.3831 – the pullback level of 14.6% (red dotted line). After this level is reached, the upward movement can extend to the target of 1.3990 – the pullback level of 61.8% (yellow dotted line).
Figure 1 (weekly chart)
Comprehensive analysis:
Indicator analysis - upFibonacci levels - upVolumes - upCandlestick analysis - upTrend analysis - upBollinger lines - upMonthly chart - downAn upward movement can be concluded based on a comprehensive analysis.
The overall result of the candlestick calculation based on the weekly chart: the price will most likely move in an upward trend, both with the first lower shadow (Monday - down) and the second upper shadow (Friday - down) in the weekly white candlestick.
The price from the level of 1.3856 (closing of the last weekly candle) is expected to increase to the target of 1.3911 – the pullback level of 50.0% (yellow dotted line) after a small downward pullback to the level of 1.3831 – the pullback level of 14.6% (red dotted line). After reaching this level, it can continue rising to the level of 1.3990 – the pullback level of 61.8% (yellow dotted line).
As an alternative, the price from the level of 1.3856 (closing of the last weekly candle) may decline to the target of 1.3742 – the support line (white thick line). After this line is tested, it can rise to the target of 1.3834 – the pullback level of 38.2% (yellow dotted line).