Trading Conditions
Products
Tools
Trend analysis.
This week, the price from the level of 1.1786 (closing of the last weekly candle) may continue to move downward with the target at 1.1693 - the support line (black thick line). Upon reaching this line, it is possible to work downward with the target of 1.1607 - the pullback level of 23.6% (red dotted line).
Fig. 1 (weekly chart).
Comprehensive analysis:
- indicator analysis - down;
- Fibonacci levels - down;
- volumes - down;
- candlestick analysis - down;
- trend analysis - up;
- Bollinger lines - down;
- monthly chart - down.
Conclusion on a comprehensive analysis - a downward movement.
The general result of the calculation of the candlestick of the EUR/USD currency pair according to the weekly chart: the price in the week is likely to have a downward trend with the absence of an upper shadow in the weekly black candlestick (Monday - down) and the presence of a second lower shadow (Friday - up).
The first downside target at 1.1693 is the support line (black bold line). Upon reaching this level, we can continue the further work downward with the target of 1.1607 - pullback level of 23.6% (red dotted line).
An alternative scenario: when moving down and reaching the level of 1.1693 - the support line (black bold line), the price may start working upward, with the target at 1.1915 - the upper fractal (red dotted line).
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.