20.06.202212:30 Forex Analysis & Reviews: Technical analysis of EUR/USD for June 20-25, 2022

trend analysis

EUR/USD will attempt to move up this week, from 1.0494 (closing of the last weekly candle) to 1.0623, the 61.8% retracement level (yellow dotted line). Then, it will go to 1.0695, the historical resistance level (blue dotted line).

Fig. 1 (weekly chart)

comprehensive analysis:

Indicator analysis - uptrend

Fibonacci levels - uptrend

Volumes - uptrend

Candlestick analysis - uptrend

Trend analysis - uptrend

Bollinger bands - uptrend

Monthly chart - uptrend

All this points to an upward movement in EUR/USD.

Conclusion: The pair will have an upward trend, with no first lower shadow on the weekly white candle (Monday - up) and a second upper shadow (Friday - down).

And during the week, the price will rise from 1.0494 (closing of the last weekly candle) to the 61.8% retracement level at 1.0623 (yellow dotted line), then move to the historical resistance level at 1.0695 (blue dotted line).

Alternatively, the quote could attempt to move down from 1.0494 (closing of the last weekly candle) to the support level at 1.0355 (thick blue line), then bounce back and start an uptrend.