FX.co ★ EUR/USD currency pair technical analysis for the week of October 12 to 17

Trend analysis.

The price for this week from the level of 1.1824 (closing of the last weekly candle) may start a pullback movement down with the goal of 1.1746 – a pullback level of 38.2% (red dotted line). When testing this level, continue working down with the goal of 1.1721 – a pullback level of 50.0% (red dotted line). If you move down from the level of 1.1694, you can start working up.

Figure 1 (weekly chart).

Comprehensive analysis:

- Indicator Analysis – Down;

- Fibonacci Levels – Down;

- Volumes – Down;

- Technical Analysis – Down;

- Trend Analysis – Down;

- Bollinger Bands – Up;

- Monthly Chart – Up.

The conclusion of the complex analysis is a downward movement.

Total calculation candles of the currency pair EUR/USD weekly chart: price of the week probably will have a downward trend movement with no upper shadows weekly black candles (Monday – down) and the presence of the lower shadow (Friday – down).

The first lower target of 1.1746 is a pullback level of 38.2% (red dotted line). When testing this level, the next lower target is 1.1721 – a pullback level of 50.0% (red dotted line).

Unlikely scenario: from the level of 1.1824 (closing of the last weekly candle), a downward movement with the target of 1.1746 – a pullback level of 38.2% (red dotted line). When testing this level, work up with the goal of 1.1830 – the upper fractal (red dotted line).