FX.co ★ Technical analysis of EUR/USD for July 25-30, 2022

Trend analysis

EUR/USD will increase this week, from 1.0213 (closing of the last weekly candle) to 1.0213, which is the 38.2% retracement level (yellow dotted line). Then, it will continue moving up to the 50% retracement level at 1.0367 (yellow dotted line), before returning to 1.0278, which is the upper fractal (weekly candle from 07/17/2022).

Fig. 1 (weekly 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 no second upper shadow (Friday - up).

During the week, euro will climb from 1.0213 (closing of the last weekly candle) to the 38.2% retracement level at 1.0213 (yellow dotted line), move to the 50% retracement level at 1.0367 (yellow dotted line), then return to the upper fractal at 1.0278 (weekly candle from 07/17/2022).

Alternatively, the pair could decrease from 1.0213 (closing of the last weekly candle) to the 161.8% retracement level at 1.0078 (red dotted line), then bounce up to the 23.6% retracement level at 1.0146 (yellow dotted line).