Trend analysis (Figure 1).
The price is moving downwards and tested the support line 1.2057 on small volumes,m which indicates the possibility of moving upwards. The complex analysis will accurately determine the further direction of the price.
Fig. 2 (weekly chart).
Complex analysis:
- indicator analysis - down;
- Fibonacci levels - down (blue dotted line);
- volumes - upwards;
- candle analysis - neutral;
- trend analysis - up;
- Bollinger lines - up;
- monthly graph - up.
Conclusion on complex analysis - up.
The overall result of the candle calculation for the EUR/USD currency on a weekly chart shows the weekly price would likely have an upward trend with the presence of the first lower shadow of the weekly white candle and the presence of a second upper shadow.
The first lower target of 1.2174 is the retracement level of 23.6% (yellow dotted line).
* The presented market analysis is informative and does not constitute a guide to the transaction.