Trend analysis

The price from the level of 1.1770 (closing of the last weekly candle) may begin rising this week, with a target of 1.1826 – the pullback level of 14.6% (blue dotted line). After reaching this level, the upward movement may resume with the target of 1.1873 – the pullback level of 23.6% (blue dotted line).

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 1.1826 – the pullback level of 14.6% (blue dotted line). Once this level is reached, the upward movement will extend to the target of 1.1873 – the pullback level of 23.6% (blue dotted line).

Alternatively, the price from the level of 1.1770 (closing of the last weekly candle) may continue to decline in order to test the lower fractal of 1.1703 (yellow dotted line). After reaching this level, it will likely rise to the target of 1.1767 – the resistance line (white thick line).