06.07.202008:10 Forex Analysis & Reviews: Technical analysis of EUR/USD currency pair for the week of July 6-11

Trend analysis.

The price, from the level of 1.1245 (closing of the last weekly candle) can continue to move up this week, with the first goal of 1.1276 – a pullback level of 76.4% (blue dotted line). After reaching this level, work further up with the next target 1.1330 - resistance line (red bold line). From this line, work can start downwards.

Fig. 1 (weekly schedule).

Comprehensive analysis:

- indicator analysis - up;

- Fibonacci levels - up;

- volumes - up;

- candlestick analysis - neutral;

- trend analysis - up;

- Bollinger Lines - up;

- monthly chart - up.

The conclusion of a comprehensive analysis is an upward movement.

The total result of calculating the candlestick 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 a lower shadow for the weekly white candlestick (Monday - up) and the absence of a second upper shadow (Friday - up).

The first upper target of 1.1276 is a pullback level of 76.4% (blue dashed line). Upon reaching this level, work further upward to the next goal of 1.1330 - resistance line (red bold line). It is possible to pull back down from this line.

An unlikely scenario: working down with a target of 1.1121- pullback level of 38.2% (red dashed line) when moving up and reaching a pullback level of 76.4% - 1.1245 (blue dashed line) is unlikely.