Trend Analysis (Fig. 1)

This week, from the level of 1.1620 (the close of the latest weekly candle), the market may continue moving upward toward 1.1716 – the 23.6% retracement level (blue dashed line). Upon testing this level, the price may pull back downward toward 1.1663 – the 14.6% retracement level (red dashed line).

Fig. 1 (weekly chart).

Comprehensive Analysis:

• indicator analysis – upward
• Fibonacci levels – upward
• volumes – upward
• candlestick analysis – upward
• trend analysis – upward
• Bollinger Bands – upward
• monthly chart – upward

Conclusion from the comprehensive analysis: upward trend.

Final Summary of the Weekly Candle Projection for EUR/USD:

During the week, the price will most likely show an upward trend, with no lower shadow on the weekly white candle (Monday – upward), and the presence of an upper shadow (Friday – downward).

Alternative Scenario:

From the level of 1.1620 (the close of the latest weekly candle), the pair may begin moving upward toward 1.1793 – the 14.6% retracement level (blue dashed line). Upon testing this level, the price may pull back downward toward 1.1716 – the 23.6% retracement level (blue dashed line).