FX.co ★ Technical analysis on EUR/USD pair for this week

Trend analysis.

The price from the level of 1.1715 (closing of the last weekly candle) may continue to rise this week with the goal at 1.1811 - the pullback level of 50.0% (blue dashed line). After this level is tested, we can continue to work upwards with the goal of 1.1858 - the pullback level of 61.8% (blue dashed line).

Figure: 1 (weekly chart).

Comprehensive analysis:

- indicator analysis - up;

- Fibonacci levels - up;

- volumes - up;

- candlestick analysis - up;

- trend analysis - down;

- Bollinger lines - up;

- monthly chart - up.

An upward movement can be concluded based on comprehensive analysis.

The general result of the calculation of the candlestick of the EUR/USD pair according to the weekly chart: this week, the price is likely to have an upward trend, without the lower shadow in the weekly white candlestick (Monday - up) and with the upper shadow (Friday - down).

The first upper goal is at 1.1811 - the pullback level of 50.0% (blue dotted line). If this level is tested, further growth can continue with the goal of 1.1858 - the pullback level of 61.8% (blue dashed line).

An unlikely scenario: a decline may start from the level of 1.1715 (closing of the last weekly candlestick), with the goal at 1.1579 - the historical support level (blue dotted line).