EUR/USD. Technical Analysis for the Week of July 28 – August 2

Trend Analysis (Figure 1)

This week, the market may start moving downward from the 1.1742 level (the close of the last weekly candle) with a target at 1.1536 – the 38.2% retracement level (blue dashed line). Upon testing this level, the price may begin an upward movement targeting 1.1571 – the upper fractal (red dashed line).

Figure 1 (Weekly Chart)

Comprehensive Analysis:Indicator analysis – downwardFibonacci levels – downwardVolume – downwardCandlestick analysis – downwardTrend analysis – downwardBollinger Bands – downwardMonthly chart – downward

Conclusion from the Comprehensive Analysis: downward movement.

Overall Summary for the EUR/USD Weekly Candle:

The price is most likely to show a downward trend throughout the week, with the weekly black candle lacking an upper shadow (Monday – down), and forming a lower shadow (Friday – up).

Alternative Scenario:

The pair may begin moving downward from the 1.1742 level (close of the last weekly candle) toward the target of 1.1498 – the 85.4% retracement level (red dashed line). Upon testing this level, the price may start an upward movement targeting 1.1571 – the upper fractal (red dashed line).