Trend analysis (Figure 1).
The price, moving upwards, closed above the recession level of 23.6% - 1.1756 (the blue dotted line).
Most likely next week, the upward movement will continue with the question, but the price can break through the upper fractal level 1.1830 (red dotted line). The first attempt failed.
Fig. 2 (weekly chart).
Complex analysis:
- Indicator analysis - up;
- Fibonacci levels - up (blue dotted line);
- volumes - upwards;
- candlestick analysis - up;
- trend analysis - up;
- Bollinger lines - up;
- monthly graph - up.
Conclusion on complex analysis - up.
The total result of the calculation of the candle currency pair EUR/USD on a weekly chart: the price for a week is likely to have an upward trend with the absence of the first lower shadow of a weekly white candle and the absence of a second upper shadow.
The first upper target is the upper fractal level 1.1830 (red dashed line).
The material has been provided by InstaForex Company - www.instaforex.com