FX.co ★ Weekly review from 7 to 12 May 2018 on the pair EUR / USD

Trend analysis (Figure 1).

The price is moving downwards, closed below the recession level of 23.6% at 1.2057 on large volumes. This indicates the possibility of continuing the downward movement. 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 - down;

- candlestick analysis - up;

- trend analysis - down;

- Bollinger lines - down;

- monthly graph - up.

Conclusion on complex analysis - up.

The overall result of the calculation of the EUR/USD currency pair on a weekly chart shows the weekly price would likely move in 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 initial top target is 1.2064 - the rolling level is 23.6%.