EUR/USD. Technical Analysis for the Week of November 24–29

Trend Analysis (Fig. 1).

This week, the market, from the level of 1.1512 (the close of the last weekly candle), may begin moving upward toward 1.1663 — the 14.6% retracement level (red dashed line). When testing this level, the price may retrace downward toward 1.1592 — the 38.2% retracement level (blue dashed line).

Fig. 1 (weekly chart).

Comprehensive Analysis:

• Indicator analysis — upward;
• Fibonacci levels — upward;
• Volumes — upward;
• Candlestick analysis — upward;
• Trend analysis — upward;
• Bollinger Bands — upward;
• Monthly chart — upward.

Conclusion from the comprehensive analysis: upward trend.

Overall forecast for the weekly EUR/USD candle: the price this week will most likely show an upward trend, with the weekly white candle lacking a lower shadow (Monday — upward) and having an upper shadow (Friday — downward).

Alternative scenario: From the level of 1.1512 (the close of the last weekly candle), the pair may begin moving upward toward 1.1592 — the 38.2% retracement level (blue dashed line). When testing this level, the price may retrace downward toward 1.1562 — the 21-period EMA (thin black line).