02.12.201912:43 Forex Analysis & Reviews: Technical analysis for the week of December 2 to 7 on the EUR/USD currency pair

Trend analysis.

This week, the price will move up with the first target of 1.1057 - a retracement level of 38.2% (blue dotted line). When breaking up this level, the next upper target will be the resistance line of 1.1064 (red bold line).

Fig. 1 (weekly chart).

Complex analysis:

- Indicator analysis - up;

- Fibonacci levels - up;

- Volumes - up;

- Candle analysis - neutral;

- Trend analysis - neutral;

- Bollinger Bands - down;

- Monthly chart - up.

The conclusion of the complex analysis - an upward movement.

The overall result of calculating the candle of the EUR/USD currency pair according to the weekly chart: the price of the week is likely to have an upward trend with the absence of the first lower shadow at the weekly white candle (Monday - up) and having a second upper shadow (Friday - down).

The first target when moving up is 1.1057 - a pullback level of 38.2% (blue dotted line). When breaking up this level, the next top target will be the resistance line of 1.1064 (red bold line).

Lower scenario - the first lower target of 1.0981 is the lower fractal (blue dotted line). If successful, the next lower target is a pullback level of 76.4% - 10955 (red dotted line).