When moving down, the price reached the support line of 1.1183 (blue bold line) and moved up last week, tested the resistance line (red bold line). In the coming week, the main question is whether the market will break through this line. Let's try to figure it out.
Trend analysis (Fig. 1).
In the coming week, the price will move up from the first target of the 21 EMA middle line - 1.1348 (black thin line).
Fig. 2 (weekly schedule).
Comprehensive analysis:
- Indicator analysis - up;
- Fibonacci levels - neutral;
- Volumes - up;
- Candlestick analysis - up;
- Trend analysis - up;
- Bollinger lines - down;
- Monthly schedule - up.
The conclusion of the complex analysis - upward movement.
The total result of the calculation of the EUR/USD currency pair candle on a weekly schedule: 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 1.1348 - 21 medium EMA (black thin line).
The material has been provided by InstaForex Company - www.instaforex.com