EUR/USD. Technical Analysis for the Week of October 20–25

Trend Analysis (Fig. 1)This week, from the level of 1.1650 (the closing price of the last weekly candle), the market may begin a downward movement with the target at 1.1488 — the historical support level (blue dashed line). Upon testing this level, the price may retrace upward toward 1.1538 — the 38.2% retracement level (blue dashed line).

Fig. 1 (Weekly Chart)

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

Conclusion from comprehensive analysis: Downward movement.

Overall summary for the EUR/USD weekly candle calculation: During the week, the price is most likely to follow a downward trend, forming a black weekly candle with a first upper shadow (Monday — upward movement) and a second lower shadow (Friday — upward movement).

Alternative Scenario:

From the level of 1.1650 (the closing price of the last weekly candle), the pair may begin a downward movement toward 1.1447 — the 50% retracement level (blue dashed line). Upon testing this level, the price may start moving upward toward 1.1498 — the historical support level (blue dashed line).