Trend analysis

The price from the level of 1.1720 (closing of the last weekly candle) may start rising this week to the target of 1.1777 – the historical resistance level (blue dotted line). Once this level is broken upwards, the upward movement may continue to the target of 1.1806 – 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

The conclusion based on a comprehensive analysis is an upward movement.

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 price from the level of 1.1720 (closing of the last weekly candle) may start to rise to the target of 1.1777 – the historical resistance level (blue dotted line) this week. After breaking this level upwards, it may further increase to the target of 1.1806 – the pullback level of 23.6% (blue dotted line).

Alternatively, the price from the level of 1.1720 (closing of the last weekly candle) may continue to decline to test the lower fractal of 1.1664 (yellow dotted line). After reaching this level, it may move up to the target of 1.1751 – the pullback level of 14.6% (blue dotted line).