FX.co ★ Technical analysis of EUR/USD for June 6-11, 2022

Trend analysis

EUR/USD will attempt to move up this week, from 1.0717 (closing of the last weekly candle) to 1.0921, the 50.0% retracement level (red dotted line). But after that, the price may roll back down.

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 price will rise from 1.0717 (closing of the last weekly candle) to the 50.0% retracement level at 1.0921 (red dotted line), then roll back downwards.

Alternatively, the quote could attempt to move up from 1.0717 (closing of the last weekly candle) to the upper fractal at 1.0786 (yellow dotted line), then bounce back to the historical support level at 1.0694 (dashed blue line). The upward trend may resume after that.