EUR/USD Trend Analysis: Anticipating an Upward Movement with Key Resistance Levels

Trend analysis EUR/USD may continue moving up this week, starting from the level of 1.0909 (closing of the last weekly candle) to the upper fractal located at 1.1011 (blue dotted line). Upon reaching this price, the pair will resume an upward movement towards the 85.4% retracement level at 1.1028 (red dotted line).

 

 

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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 this points to an upward movement in EUR/USD.

 

 

Overall conclusion:

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

So during the week, euro will rise from 1.0909 (closing of the last weekly candle) to the upper fractal at 1.1011 (blue dotted line), and then go further to the 85.4% retracement level at 1.1028 (red dotted line).

Alternatively, the quote may climb from 1.0909 (closing of the last weekly candle) to the upper fractal at 1.1011 (blue dotted line), followed by a fall to the 23.6% retracement level at 1.0958 (blue dotted line).