FX.co ★ Technical analysis of EUR/USD for March 13-18, 2022

Trend analysis

EUR/USD may rally this week, from 1.0910 (closing of the last weekly candle) to 1.1019, the 14.6% retracement level (dashed blue line). Then, it will go to 1.1149, which is the 23.6% retracement level (dashed blue line).

Fig. 1 (daily chart)

Comprehensive analysis:

Indicator analysis - uptrend

Fibonacci levels - uptrend

Volumes - uptrend

Candlestick analysis - uptrend

Trend analysis - uptrend

Bollinger bands - uptrend

Monthly chart - uptrend

All this points to an upward movement in EUR/USD.

Conclusion: The pair will have an upward trend, with no first lower shadow on the weekly white candle (Monday - up) and a second upper shadow (Friday - down).

And during the week, the price will climb from 1.0910 (closing of the last weekly candle) to the 14.6% retracement level at 1.1019 (dashed blue line), then go further up to the 23.6% retracement level at 1.1149 (dashed blue line).

Alternatively, the quote could move down from 1.0910 (closing of the last weekly candle) to the historical resistance level at 1.0695 (blue dotted line), then bounce back to the resistance line at 1.0806 (thick red line) and to the 14.6% retracement level at 1.1019 (blue dotted line).