Trend analysis (Fig. 1).
To continue the downward trend, the price should overcome 1.1269, the support line (orange thick line), and then the path to the rolling back level of 61.8% opens, 1.1168 (yellow dashed line)
Fig. 2 (weekly schedule).
Comprehensive analysis:
- Indicator analysis - down;
- Fibonacci levels - down (yellow dotted line);
- Volumes - down;
- Candlestick analysis - up;
- Trend analysis - up;
- Bollinger lines - down;
- Monthly schedule - down.
Conclusion on complex analysis - down.
The calculation of the first shadow of the week (Monday) on a weekly schedule.
The middle lines of the EMA 1/5/8 are the bottom signal.
The "three lines" indicator (the direction of the CCI (5), RSI (5), stochastic lines with a period of 3/3/4) on the last run is down.
The calculation of the RSI indicator system for the first tail is down.
The result: the calculation of the weekly candlestick according to the indicator analysis showed that on Monday the price may have a downward trend, which should be confirmed by the daily chart.
The calculation of the second shadow of the week (Friday).
The calculation by MACD linear part gave a downward trend (100 points down).
The calculation of the MACD histogram gave a downward trend (100 points down).
The bottom line: the calculation of the last day of the week according to technical analysis showed that on Friday the price may have a downward trend, which should be confirmed by the daily chart.
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 absence of the first upper shadow from the weekly black candle (Monday - down) and the absence of the second lower shadow (Friday - down).
The nearest lower target, the target is 1.1269, the support line (thick orange line).
The material has been provided by InstaForex Company -
www.instaforex.com