Relevance up to 09:00 2022-07-23 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
trend analysis
EUR/USD will most likely rise this week, from 1.0078 (closing of the last weekly candle) to 1.0147, which is the 23.6% retracement level (yellow dotted line). Then, the pair will continue moving up to the 38.2% retracement level at 1.0267 (yellow dotted line), before returning to 1.0114, which is the historical support level (blue dotted line)
Fig. 1 (weekly chart)
comprehensive analysis:
Indicator analysis - uptrend
Fibonacci levels - uptrend
Volumes - uptrend
Candlestick analysis - uptrend
Trend analysis - uptrend
Bollinger bands - uptrend
Monthly chart - uptrend
All this points to an upward movement in EUR/USD.
Conclusion: The pair will have an upward trend, with no first lower shadow on the weekly white candle (Monday - up) and a second upper shadow (Friday - down).
During the week, the quote will climb from 1.0078 (closing of the last weekly candle) to the 23.6% retracement level at 1.0147 (yellow dotted line), climb up to the 38.2% retracement level at 1.0267 (yellow dotted line), then return to the historical support level at 1.0114 (dashed blue line).
Alternatively, the pair could move from 1.0078 (closing of the last weekly candle) to the 23.6% retracement level at 1.0147 (yellow dotted line), then go down to the lower fractal at 0.9952 (yellow dotted line). From there, the quote will rise to the 14.6% retracement level at 1.0072 (red dotted line) and continue the uptrend.
