empty
 
 
30.08.2021 12:06 PM
Technical analysis of EUR/USD pair from August 30-Sept 4, 2021

Trend analysis

The price from the level of 1.1789 (closing of the last weekly candle) may continue rising to the target of 1.1893 – the pullback level of 38.2% (blue dotted line). After reaching this level, the upward movement may extend to the target of 1.1964 – the pullback level of 50.0% (blue dotted line).

This image is no longer relevant

Figure 1 (weekly chart)

Comprehensive analysis:

  • Indicator analysis - up
  • Fibonacci levels - up
  • Volumes - up
  • Candlestick analysis - up
  • Trend analysis - up
  • Bollinger lines - up
  • Monthly chart - up

An upward movement can be concluded based on a comprehensive analysis.

The overall result of the candlestick calculation based on the weekly chart: the price will most likely move in an upward trend, without a lower shadow (Monday - up) and with an upper shadow (Friday - down) in the weekly white candlestick.

The first upward target is the level of 1.1893 – the pullback level of 38.2% (blue dotted line). After reaching it, the price may further rise to the target of 1.1964 – the pullback level of 50.0% (blue dotted line).

Alternatively, the price from the level of 1.1789 (closing of the last weekly candle) may also further rise by testing the level of 1.1893 – the pullback level of 38.2% (blue dotted line). Once this level is reached, it may decline to the target of 1.1844 – 13 middle EMA (yellow thin line).

Stefan Doll,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback