FX.co ★ Technical analysis of EUR/USD currency pair for the week of February 17-22

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).