The upcoming week will be very short. Monday, Tuesday and Wednesday will be weekends, and even on the eve of the New Year, it is unlikely that someone will strive to get rich. Last week, the price went up to the resistance line of 1.1487 (red bold line) and then went down. This week, a downward movement is possible.
Trend analysis (Fig. 1).
When moving down, the first lower target is 1.1307, the historical level of support (blue dotted line).
Fig. 2 (weekly schedule).
Comprehensive analysis:
- Indicator analysis - down;
- Fibonacci levels - down;
- Volumes - down;
- Candlestick analysis is neutral;
- Trend analysis - down;
- Bollinger lines - down;
- Monthly schedule - down.
Conclusion on a comprehensive analysis - the downward movement.
The total result of the calculation of the EUR / USD currency pair candle on a weekly schedule: the price of the week is likely to have a downward trend with the presence of the first upper shadow at the weekly black candle (Monday - up) and the second lower shadow (Friday - up).
When moving down, the first lower target is 1.1307, the historical level of support (blue dotted line).
The material has been provided by InstaForex Company - www.instaforex.com