FX.co ★ Technical analysis of EUR/USD for July 10-15, 2023

Trend analysis

EUR/USD may continue moving up this week, starting from the level of 1.0965 (closing of the last weekly candle) to the upper fractal located at 1.1093 (red dotted line). Upon reaching this price, the pair will go further to the historical resistance level at 1.1174 (blue dotted line).

Fig. 1 (weekly chart)

Comprehensive analysis:

Indicator analysis - upward

Fibonacci levels - upward

Volumes - upward

Candlestick analysis - upward

Trend analysis - upward

Bollinger bands - upward

Monthly chart - upward

Conclusion: All indicators point to an upward movement in EUR/USD.

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

So during the week, euro will rise from 1.0965 (closing of the last weekly candle) to the upper fractal at 1.1093 (red dotted line), and then climb to the historical resistance level at 1.1174 (blue dotted line).

Alternatively, the quote may move up from 1.0965 (closing of the last weekly candle) to the upper fractal at 1.1091 (red dotted line), followed by a rollback to the 14.6% retracement level at 1.1009 (blue dotted line).