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Figure 1: Weekly Chart
Comprehensive Analysis
Conclusion of comprehensive analysis: downward movement.
Overall Summary for the Weekly EUR/USD Candle
Throughout the week, the price is most likely to show a downward trend, with no upper shadow on the weekly black (bearish) candle (Monday — down) and a lower shadow forming by Friday (Friday — up).
Alternative Scenario
From the level of 1.1621 (closing price of the last weekly candle), the pair may continue its downward movement toward 1.1447 — the 50% retracement level (blue dashed line). Upon testing this level, the price may start moving upward, targeting 1.1488 — the historical support level (light 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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