Weekly review – EUR/USD December 31 to January 5, 2018

We have a second holiday week, which will also be short. Last week, when moving up, it again tested the resistance line of 1.1459 (red bold line). An upward movement is possible this week, but the level of 1.1436 will put everything in its place.

Trend analysis (Fig. 1).

When moving up the first upper target is 1.1482 – 21 medium EMA (black thin line).

Fig. 2 (weekly schedule).

Comprehensive analysis:

– Indicator analysis – up;

– Fibonacci levels – neutral;

– Volumes – up;

– Candlestick analysis is neutral;

– Trend analysis is neutral;

– Bollinger lines – down;

– Monthly schedule – up.

Conclusion of the complex analysis – upward movement.

The total result of the calculation of the EUR / USD currency pair candle on the weekly chart: the price of the week is likely to have an upward trend with the absence of the first lower shadow for the weekly white candle (Monday is up) and the absence of the second upper shadow (Friday is up).

When moving up the first upper target is 1.1482 – 21 medium EMA (black thin line).

The material has been provided by InstaForex Company – www.instaforex.com

Source:: Weekly review for the EUR / USD currency pair from December 31 to January 5, 2018

Won't your trader friends like this?
InstaForex
About the Author
InstaForex brand was created in 2007 and at the moment it’s a top choice of more than 2,000,000 traders. More than 1,000 clients open accounts with InstaForex every day. All InstaForex clients get great opportunities for effective trading on the forex market, as well as on-time technical and customer support

Leave a Reply

*