FX.co ★ Technical analysis for the EUR/USD currency pair for the week from October 14 to 19

Trend analysis.

This week, the price will continue to move up and once again try to test the pullback level of 38.2% – 1.1082 (blue dotted line). A breakthrough is unlikely, and the market from this level will try to start moving down into a pullback, with the first target of 1.1019 – a pullback level of 23.6% (red dotted line).

Fig. 1 (weekly chart).

Complex analysis:

- Indicator analysis – up;

- Fibonacci levels – up;

- Volumes – up;

- Candle analysis – up;

- Trend analysis – up;

- Bollinger bands – down;

- Monthly chart – up.

The conclusion of the complex analysis – an upward movement.

The total result of calculating the candle of the EUR/USD currency pair according to the weekly chart: the price for weeks is more likely to have an upward trend with the absence of the first lower shadow at the weekly white candle (Monday – up) and the lack of the second upper shadow (Friday – up).