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trend analysis
EUR/USD quotes are likely to increase this week, starting from 0.9843 (closing of the last weekly candle) to 1.0023, which is the 38.2% retracement level (yellow dotted line). Then, it will move to the 50.0% retracement level at 1.0168 (yellow dotted line) before going down again.
Fig. 1 (weekly chart)
Comprehensive analysis:
Indicator analysis - uptrend
Fibonacci levels - uptrend
Volumes - uptrend
Candlestick analysis - uptrend
Trend analysis - uptrend
Bollinger bands - uptrend
Monthly chart - uptrend
All this points to an upward movement in EUR/USD.
Conclusion: The pair will have a bullish trend, with no first lower shadow on the weekly white candle (Monday - up) and no second upper shadow (Friday - up).
So during the week, euro will rise from 0.9843 (closing of the last weekly candle) to the 38.2% retracement level at 1.0023 (yellow dotted line), go to the 50.0% retracement level at 1.0168 (yellow dotted line), then fall down again.
Alternatively, quotes could climb from 0.9843 (closing of the last weekly candle) to the 38.2% retracement level at 1.0023 (yellow dotted line), then move down to the 208% retracement level at 0.9876 (dashed blue line). The pair will rise again after testing this level.
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