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Trend Analysis (Fig. 1):
This week, from the 1.0878 level (previous weekly candle close), the market may initially move downward toward 1.0835 – the 14.6% retracement level (blue dashed line). After testing this level, the price is expected to resume its upward movement toward 1.1002 – a historical resistance level (blue dashed line).
Comprehensive Analysis:
The EUR/USD pair is expected to follow an upward trend during the week. The weekly candle is likely to have a lower shadow (Monday – downward movement) and a second upper shadow (Friday – downward movement), indicating initial weakness before resuming an uptrend.
Alternative Scenario:
If the pair moves downward from the 1.0878 level (previous weekly close), it may target 1.0765 – the 23.6% retracement level (blue dashed line). If this level is tested, the price may resume its upward movement toward 1.0947 – the upper fractal level (blue dashed line).
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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