Trend analysis (Fig. 1).
In the coming week, the price will move down with the first target of 1.1198 – support line (blue thick line).
Fig. 2 (weekly schedule).
Comprehensive analysis:
- Indicator analysis - up;
- Fibonacci levels - neutral;
- Volumes - up;
- Candlestick analysis is neutral;
- Trend analysis - down;
- Bollinger lines - down;
- Monthly schedule - up.
The conclusion from the complex analysis is the upward movement.
The overall 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 presence of the first lower shadow of the weekly white candle (Monday – down) and the absence of the second upper shadow (Friday – up).
When moving up, the first upper target of 1.1280 is the resistance line (red bold line).
The material has been provided by InstaForex Company - www.instaforex.com
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