Technical analysis for the EUR/USD currency pair for the week from September 30 to October 5

Trend analysis.

This week, after testing the target level of 161.8%, the price will try to start moving upwards in a pullback with the first target of 1.0978 – a pullback level of 14.6% (blue dotted line).


Fig. 1 (weekly chart).

Complex analysis:

- Indicator analysis – up;

- Fibonacci levels – up;

- Volumes – up;

- Candlestick analysis – neutral;

- Trend analysis – down;

- Bollinger Bands – down;

- Monthly chart – up.

The conclusion of the complex analysis – an upward movement.

The total result of calculating the candle of the EUR/USD currency pair according to the weekly chart: the price for weeks is more likely to have an upward trend with the absence of the first lower shadow of the weekly white candlestick (Monday – up) and the presence of the second upper shadow (Friday – down).

The material has been provided by InstaForex Company -