This week, after testing the target level of 161.8%, the price will try to start moving upwards in a pullback with the first target of 1.0978 – a pullback level of 14.6% (blue dotted line).
Fig. 1 (weekly chart).
– Indicator analysis – up;
– Fibonacci levels – up;
– Volumes – up;
– Candlestick analysis – neutral;
– Trend analysis – down;
– Bollinger Bands – down;
– Monthly chart – up.
The conclusion of the complex analysis – an upward movement.
The total result of calculating the candle of the EUR/USD currency pair according to the weekly chart: the price for weeks is more likely to have an upward trend with the absence of the first lower shadow of the weekly white candlestick (Monday – up) and the presence of the second upper shadow (Friday – down).
The material has been provided by InstaForex Company – www.instaforex.com