06.01.202008:56 Forex Analysis & Reviews: Technical analysis for EUR/USD for the week from January 6 to 11

Trend analysis.

This week, the price will move up with the first target of 1.1239 - the upper fractal. If you break through the top of this level, the next top target will be a pullback level of 76.4% - 1.1276 (blue dotted line).

Fig. 1 (weekly chart).

Complex analysis:

- Indicator analysis - up;

- Fibonacci levels - up;

- Volumes - up;

- Candle analysis - up;

- Trend analysis - up;

- Bollinger lines - up;

- Monthly chart - up.

The conclusion of the complex analysis - an upward movement.

The total result of calculating the candle of the EUR/USD currency pair according to the weekly chart: the price for weeks is more likely to have an upward trend, with the absence of the first lower shadow of the weekly white candlestick (Monday - up) and the absence of the second upper shadow (Friday - up).

Unlikely lower scenario - from the level of 1.1159 (the previous week's close), a downward movement from the first lower target of 1.11123 - a pullback level of 23.6% (red dotted line). If successful, the next lower target of 1.1077 is a pullback level of 38.2% (red dotted line).