21.11.202211:16 Forex Analysis & Reviews: Technical analysis of EUR/USD for November 21-26, 2022

Trend analysis

EUR/USD is likely to continue its downward movement this week, starting from the level of 1.0324 (closing of the last weekly candle) to 1.0117, which is the 38.2% retracement level (blue dotted line). Then, it will bounce up to the upper fractal at 1.0479 (blue dotted line).

Fig. 1 (weekly chart)

Comprehensive analysis:

Indicator analysis - downtrend

Fibonacci levels - downtrend

Volumes - downtrend

Candlestick analysis - downtrend

Trend analysis - uptrend

Bollinger bands - uptrend

Monthly chart - uptrend

All this points to a downward movement in EUR/USD.

Conclusion: The pair will have a bearish trend, with no first upper shadow on the weekly black candle (Monday - down) and no second lower shadow (Friday - down).

So during the week, euro will fall from 1.0324 (closing of the last weekly candle) to the 38.2% retracement level at 1.0117 (blue dotted line), then bounce up to higher price levels.

Alternatively, quotes could dip from 1.0324 (closing of the last weekly candle) to the 23.6% retracement level at 1.0256 (blue dotted line), then bounce up to higher price levels.