FX.co ★ Technical analysis of the EUR/USD pair for the week of July 20 to 26

Trend analysis.

The price from the level of 1.1427 (closing of the last weekly candle) can continue to move up this week, with the first target 1.1495 – the upper fractal. After reaching this level, we can continue to further work up with the next target at 1.1579 - historical resistance level (blue dotted line).

Fig. 1 (weekly schedule).

Comprehensive analysis:

- indicator analysis - up;

- Fibonacci levels - up;

- volumes - up;

- candlestick analysis - down;

- trend analysis - up;

- Bollinger lines - up;

- monthly chart - up.

The conclusion of a comprehensive analysis is an upward movement.

The general result of the calculation of the candlestick of the EUR/USD currency pair according to the weekly chart: the price will most likely have an upward trend for weeks, with the absence of a lower shadow in the weekly white candlestick (Monday - up) and the absence of a second upper shadow (Friday - up).

The first upper target 1.1495 is the upper fractal. Upon reaching this level,we can continue to further work up with the next target at 1.1579 - historical resistance level (blue dotted line).

An unlikely scenario: when moving up and reaching the level of 1.1495 (upper fractal), the price is unlikely to pullback down, with the first goal at 1.1369 - the pullback level is 14.6% (red dotted line).