14.09.202010:27 Forex Analysis & Reviews: Technical analysis of EUR/USD pair for this week (Sept 14-19)

Trend analysis.

This week, the price from the level of 1.1846 (closing of the last weekly candle) may continue to move upwards with the target at 1.1917 - upper fractal (weekly candle from 09/06/2020). If you test this level, you can continue working up with the goal of 1.2010 - the next upper fractal (red dotted line). A pullback is possible from this line.

Figure: 1 (weekly chart).

Comprehensive analysis:

- indicator analysis - up;

- Fibonacci levels - up;

- volumes - up;

- candlestick analysis - neutral;

- trend analysis - up;

- Bollinger lines - up;

- monthly chart - up.

An upward movement can be concluded based on comprehensive analysis.

The general result of calculating the candlestick of the EUR/USD pair according to the weekly chart: the price this week is likely to have an upward trend, with no lower shadow in the weekly white candlestick (Monday - up) and the presence of a lower shadow (Friday - down).

The first upper target is 1.1917 - the upper fractal (weekly candle from 09/06/2020). If this level is tested, we can continue to work upwards with the target at 1.2010 - the next upper fractal (red dotted line).

An unlikely scenario: when moving up and reaching the upper fractal 1.1917 (weekly candle from 09/06/2020), the price is unlikely to start working down, with the target at 1.1685 - a pullback level of 23.6% (red dotted line).