Technical analysis of EUR/USD from June 27 to July 2| FXMAG.COM

Relevance up to 10:00 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 try to continue moving up this week, from 1.0555 (closing of the last weekly candle) to 1.0623, which is the 61.8% retracement level (yellow dotted line). Then, it will go to the historical resistance level at 1.0695 (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 no second upper shadow (Friday - up).

And during the week, the quote will rise from 1.0555 (closing of the last weekly candle) to the 61.8% retracement level at 1.0623 (yellow dotted line), then move to the historical resistance level at 1.0695 (blue dotted line).

Alternatively, the pair could attempt to move up from 1.0555 (closing of the last weekly candle) to the 61.8% retracement level at 1.0623 (yellow dotted line), then go down to the historical support level at 1.0508 (dashed blue line). After that the price may continue the uptrend.

InstaForex Analysis

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