Trend analysis

This week, the price from the level of 1.3878 (closing of the last weekly candle) is expected to move up to the target of 1.3984 (blue bold line) – the resistance line. After reaching this line, it may further increase to the target of 1.4092 (yellow dotted line) – the pullback level of 76.4%. If this line is tested, the upward movement may continue to the target of 1.4142 (yellow dotted line) – the pullback level of 85.4%.

Fig. 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 comprehensive analysis.

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

The first upward target is set at 1.3984 (blue bold line) – the resistance line. After reaching this level, the price may further increase to the next target of 1.4092 (yellow dotted line) – the pullback level of 76.4%. Once this line is tested, the upward movement may extend to the target of 1.4142 (yellow dotted line) – the pullback level of 85.4%.

As an alternative, the price from the level of 1.3878 (closing of the last weekly candle) may decline to the target of 1.3816 (red dotted line) – the pullback level of 14.6%. After testing this level, it may further rise to the target of 1.3984 (blue bold line) – the resistance line.