FX.co ★ Technical analysis of EUR/USD for November 14-19, 2022

Trend analysis

EUR/USD quotes are likely to decline this week, starting from the level of 1.0368 (closing of the last weekly candle) to 1.0270, which is the 14.6% retracement level (dashed blue line). Then, it will bounce up to higher price levels.

Fig. 1 (weekly chart)

Comprehensive analysis:

Indicator analysis - downtrend

Fibonacci levels - downtrend

Volumes - downtrend

Candlestick analysis - downtrend

Trend analysis - uptrend

Bollinger bands - downtrend

Monthly chart - uptrend

All this points to a downward movement in EUR/USD.

Conclusion: The pair will have a bearish trend, with no first upper shadow on the weekly black candle (Monday - down) and a second lower shadow (Friday - up).

So during the week, euro will fall from 1.0368 (closing of the last weekly candle) to the 14.6% retracement level at 1.0270 (dashed blue line), then bounce up to higher price levels.

Alternatively, quotes could dip from 1.0368 (closing of the last weekly candle) to the 23.6% retracement level at 1.0213 (dashed blue line), then bounce up to higher price levels.