For the EUR / USD pair, the monthly trend is descending. After reaching the resistance line 1.2539 the probability of lower work is 70-30. The first target when moving downward is the level 1.2043, the pullback level is 50% (blue dotted line).
For the GBP / USD pair, the monthly trend is descending. After being beaten off from the resistance line (white thick line), it is possible to continue moving downward. The first lower target is 1.3688 - 50% recoil level.
EUR / USD pair
Trend analysis (Figure 1)
Last week had a downward trend. After testing for the second time the resistance line (white thick line), the price went down. The downward movement is expected next week. The first lower target of 1.2159 is the retracement level of 38.2% (celestial dotted line). The complex analysis will accurately determine the price direction.
Fig. 1 (weekly chart).
Indicator analysis on the weekly schedule (Figure 2).
The system of ADX indicators (Figure 2).
On the last run, the fast line (indicator 5 - white) and the slow line (indicator period 8 - blue) moved up. But the fast line has a value of more than 90%. In this case, the trend should be determined from the oscillator type of indicators.
Stochastic indicator (period 3/3/4) on the weekly chart shows an upward trend (Fig. 2).
The system of RSI indicators (Figure 2).
When working with the daily chart, the following periods are used in the RSI indicator system: 21 (brown), 8 (blue), 13 (yellow), 5 (red).
On the last closed candle.
The calculation of the RSI indicator (5) on the properties moves down.
Calculation of the RSI indicator (8) by properties moves down.
The bottom line of the RSI indicator system shows a downward trend.
The calculation of the CCI indicator on the properties moves down.
The bottom line of the CCI indicator system shows a downward trend.
Overall: According to the indicator analysis, the price on the weekly chart should have a downward trend.
Calculation of the first shadow of the week (Monday) on a weekly chart.
Medium lines EMA 1/5/8 - neutral signal.
The "three lines" indicator (direction of the lines of indicators CCI (5), RSI (5), stochastics with a period of 3/3/4) on the last run is the bottom signal.
Calculation of the RSI indicator system for the first tail is the bottom signal.
The bottom line shows the indicator analysis for the weekly candlestick calculation revealed that the price may have a downward trend on Monday, which should be confirmed by the daily chart.
Calculation of the second shadow of the week (Friday).
The calculation for the MACD linear part indicated a downward trend (100 points down).
Calculation of the MACD histogram indicated a downward trend (100 points down).
The bottom line of the calculation on Friday last week for technical analysis showed that the price may have a downward trend, which should be confirmed by the daily chart.
Fig. 2 (weekly chart).
Complex analysis:
- indicator analysis - down;
- Fibonacci levels - down (blue dotted lines);
- volumes - down;
- candle analysis - down;
- trend analysis - down;
- Bollinger lines - down;
- monthly chart - down.
Conclusion on complex analysis - down.
The overall result of the candle calculation for the EUR / USD currency pair on a weekly chart shows the weekly price is likely to have a downward trend with the absence of the first upper shadow of the weekly black candle and the absence of the second lower shadow. The first target is the retracement level of 38.2% (1.2159).
GBP / USD Pair
Trend analysis (Figure 1).
The past week had a downward trend. It is expected that there will be a downward trend next week, with the first target of 1.3688 (50.0% recoil level). The level of probability for this scenario would likely be shown by a comprehensive analysis.
Fig. 1 (weekly chart).
Indicator analysis on the weekly schedule (Figure 2).
The system of ADX indicators (Figure 2).
On the last run, the fast line (indicator 5 - white) and the slow line (indicator period 8 - blue) moved down. In this case, the trend should be determined from the oscillator type of indicators.
Stochastic indicator (period 3/3/4) on the weekly chart shows a downward trend (Fig. 2).
The system of RSI indicators (Figure 2).
When working with the daily chart, the following periods are used in the RSI indicator system: 21 (brown), 8 (blue), 13 (yellow), 5 (red).
On the last closed candle.
The calculation of the RSI indicator (5) on the properties moves down.
Calculation of the RSI indicator (8) by properties moves down.
The bottom line of the RSI indicator system shows a downward trend.
The calculation of the CCI indicator on the properties moves down.
The bottom line of the CCI indicator system shows a downward trend.
Overall: According to the indicator analysis, the price on the weekly chart should have a downward trend.
Calculation of the first shadow of the week (Monday) on a weekly chart.
Medium lines EMA 1/5/8 - neutral signal.
The "three lines" indicator (direction of the lines of indicators CCI (5), RSI (5), stochastics with a period of 3/3/4) on the last run is the bottom signal.
Calculation of the system RSI indicators for the first tail is down.
The bottom line of the indicator analysis for the weekly candlestick calculation showed that the price may have a downward trend on Monday, which should be confirmed by the daily chart.
Calculation of the second shadow of the week (Friday).
The calculation for the MACD linear part indicated a downward trend (100 points down).
Calculation of the MACD histogram indicated a downward trend (100 points down).
The bottom line of the technical analysis calculation on Friday last week showed that the price may have a downward trend, which should be confirmed by the daily chart.
Fig. 2 (weekly chart).
Complex analysis:
- indicator analysis - down;
- Fibonacci levels - down;
- volumes - down;
- candle analysis - down;
- trend analysis - down;
- Bollinger lines - down;
- monthly chart - down.
Conclusion on complex analysis is a downward movement.
The overall result of calculating the candle of the GBP / USD currency pair on a weekly chart shows the weekly price would likely have a downward trend, with the absence of the first upper shadow of the weekly black candle and the absence of the second lower shadow. With the first the target at 1.3690 (50.0% recoil level).
* The presented market analysis is informative and does not constitute a guide to the transaction.
