Trend analysis
EUR/USD may pull back this week, falling from 1.1036 (closing price of the last weekly candle) to the 23.6% retracement level of 1.0975 (yellow dotted line). It may go upwards after testing the level.
Comprehensive analysis:
Indicator analysis - downward
Fibonacci levels - downward
Volumes - downward
Candlestick analysis - downward
Trend analysis - downward
Bollinger bands - upward Monthly chart - upward
Conclusion: The indicators point to a downward movement in EUR/USD.
Overall conclusion: The pair will have a bearish trend, with no first upper shadow on the weekly black candle (Tuesday - downward) and a second lower shadow (Friday - upward).
Therefore, during the week, euro will decline from 1.1036 (closing price of the last weekly candle) to the 23.6% retracement level of 1.0975 (yellow dotted line), and then go upwards after testing the level.
Alternatively, it could move from 1.1036 (closing price of the last weekly candle) to the 61.8% retracement level of 1.0959 (red dotted line), and then go upwards after testing the level.
