EUR/USD. Technical Analysis for the Week of November 10–15

[Ben Graham]

Trend Analysis (Fig. 1)This week, the market may begin moving downward from the level of 1.1563 (the closing price of the last weekly candle), targeting 1.1391 — the 61.8% retracement level (blue dotted line). Upon testing this level, the price may rebound upward toward 1.1488 — a historical resistance level (light blue dotted line).

Fig. 1 (Weekly Chart)

Comprehensive Analysis:

• Indicator analysis — downward
• Fibonacci levels — downward
• Volume analysis — downward
• Candlestick analysis — downward
• Trend analysis — downward
• Bollinger Bands — downward
• Monthly chart — downward

Conclusion from the comprehensive analysis: Downward movement.

Overall Summary for the Weekly Candle of EUR/USD:

During the week, the price will most likely show a downward trend, with no upper shadow on the weekly black candle (Monday — downward movement) and the presence of a lower shadow (Friday — upward movement).

Alternative Scenario:

From the level of 1.1563 (the closing price of the last weekly candle), the pair may begin moving downward toward 1.1266 — the 76.4% retracement level (blue dotted line). Upon testing this level, the price may rebound upward toward 1.1391 — the 61.8% retracement level (blue dotted line).

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