28.09.202012:08 Forex Analysis & Reviews: Technical analysis of the EUR/USD pair for this week

Trend analysis.

This week, the price from the level of 1.1630 (close of the last weekly candle) may start rising towards the goal of 1.1670 - the pullback level of 14.6% (red dotted line). If this level is tested, we can continue to work upward with the goal of 1.1705 - the pullback level of 23.6% (red dotted line).

Figure: 1 (weekly chart).

Comprehensive analysis:

- indicator analysis - up;

- Fibonacci levels - up;

- volumes - up;

- candlestick analysis - up;

- trend analysis - down;

- Bollinger lines - up;

- monthly chart - up.

An upward movement can be concluded based on comprehensive analysis.

The general result of the calculation of the candlestick of the EUR/USD pair according to the weekly chart: this week's price is likely to have an upward trend, without a lower shadow in the weekly white candlestick (Monday - up), but with an upper shadow (Friday - down).

The first upper target is at 1.1670 - a pullback level of 14.6% (red dashed line). If this level is tested, we can continue to work upward with the target of 1.1705 - the pullback level of 23.6% (red dotted line).

An unlikely scenario: when moving up and reaching the pullback level of 14.6% (red dashed line), it is unlikely that price may start declining, with the target at 1.1486 - a pullback level 38.2% (blue dashed line).