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16.07.201802:18 Forex Analysis & Reviews: Weekly review from 16 to 21 July 2018 on the EUR/USD pair

Long-term review

Trend analysis (Figure 1).

Next week, the market may begin to move up, with the first target of 1.1756 - a pullback level of 23.6% (blue dotted line). However, the candlestick analysis gives the bottom job (harami). Let's turn to the indicator analysis.

Exchange Rates 16.07.2018 analysis

Fig. 2 (weekly chart).

Complex analysis:

- Indicator analysis - up;

- Fibonacci levels - up (blue dotted line);

- volumes - upwards;

- candle analysis - down;

- trend analysis - up;

- Bollinger bands - up;

- monthly graph - up.

The conclusion of the complex analysis is upwards.

The overall result of the calculation of the candles of the EUR/USD currency pair on the weekly chart: the price in the week is likely to have an upward trend with the absence of the first lower shadow of the weekly white candle and the absence of the second upper shadow.

The first upper target is 1.1756-the pull-back level of 23.6% (blue dotted line).

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Stefan Doll,
Analytical expert
InstaForex Group © 2007-2021
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