FX.co ★ Technical analysis of EUR/USD for June 12–17, 2023

Trend analysis (Fig. 1).

This week, the market may move upward from the level of 1.0747 (closing of the last weekly candle) with the target at 1.0810, the 38.2% pullback level (red dotted line). Upon reaching this level, the upward movement may continue with the target of 1.0865, the 50.0% pullback level (red dotted line).

Fig. 1 (weekly chart).

Comprehensive analysis:

• Indicator analysis - up;
• Fibonacci levels - up;
• Volumes - up;
• Candlestick analysis - up;
• Trend analysis - up;
• Bollinger bands - down;
• Monthly chart - up.

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

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

This week, the price may move upward from the level of 1.0747 (closing of the last weekly candle) with the target at 1.0810, the 38.2% pullback level (red dotted line). Upon reaching this level, the upward movement may continue with the target of 1.0865, the 50.0% pullback level (red dotted line).

Alternatively, the price may move upward from the level of 1.0747 (closing of the last weekly candle) with the target at 1.0810, the 38.2% pullback level (red dotted line). Upon reaching this level, a downward movement is possible with the target of 1.0790, the 13-day EMA (thin yellow line).