empty
11.10.2021 06:25 PM
Technical analysis of the EUR/USD pair for Oct 11-16, 2021

Trend analysis

The price from the level of 1.1573 (closing of the last weekly candle) may start rising to the target of 1.1636 – the pullback level of 14.6% (blue dotted line) this week. After breaking through this level up, it may further rise to the target of 1.1702 – the pullback level of 23.6% (blue dotted line).

This image is no longer relevant

Figure (weekly chart)

Comprehensive analysis:

  • Indicator analysis - up
  • Fibonacci levels - up
  • Volumes - up
  • Candlestick analysis - up
  • Trend analysis - up
  • Bollinger lines - up
  • Monthly chart - up

An upward movement can be concluded based on a comprehensive analysis.

The overall result of the candlestick calculation based on the weekly chart: the price will most likely move in an upward trend, without a lower shadow (Monday - up) and with an upper shadow (Friday - down) in the weekly white candlestick.

The price from the level of 1.1573 (closing of the last weekly candle) may begin its growth to the target of 1.1636 – the pullback level of 14.6% (blue dotted line) this week. If this level is broken up, the upward movement may continue to the target of 1.1702 – the pullback level of 23.6% (blue dotted line).

Alternatively, the price from the level of 1.1573 (closing of the last weekly candle) may continue to rise to test the historical resistance level of 1.1614 (blue dotted line). After reaching this level, a decline is possible with the target of 1.1529 – a lower fractal (blue dotted line).

Stefan Doll,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Forecast for GBP/USD on June 4, 2025

On the hourly chart, the GBP/USD pair showed no interest in movement on Tuesday. Throughout the day, bulls and bears launched weak attacks, none of which led to anything significant

Samir Klishi 10:05 2025-06-04 UTC+2

Technical Analysis of Intraday Price Movement of Silver Commodity Instrument, Wednesday June 04, 2025.

From what we can see on the 4-hour chart of the Silver commodity instrument, the Stochastic Oscillator indicator appears to be in Overbought condition so that in the near future

Arief Makmur 06:22 2025-06-04 UTC+2

Technical Analysis of Intraday Price Movement of AUD/JPY Cross Currency Pairs, Wednesday June 04, 2025.

Although on the 4-hour chart AUD/JPY has the potential to be corrected to weaken, which is confirmed by the condition of the Stochastic Oscillator indicator which is in an Overbought

Arief Makmur 06:22 2025-06-04 UTC+2

EUR/USD Forecast for June 4, 2025

Yesterday's inflation data from the Eurozone slightly slowed the euro's growth amid a continued stock market rally (Dow Jones +0.51%). However, considering the market's growth amid several challenges—including China's

Laurie Bailey 05:21 2025-06-04 UTC+2

GBP/USD Forecast for June 4, 2025

Yesterday, as the US dollar index strengthened by 0.53%, the British pound fell by 27 pips. However, this decline could already be offset during today's Asian session, as yesterday's

Laurie Bailey 05:21 2025-06-04 UTC+2

AUD/USD Forecast for June 4, 2025

The Australian dollar's move toward the price channel line at 0.6548 was delayed yesterday due to a "glitch" in the US dollar's downtrend (the index strengthened by 0.53%), but overall

Laurie Bailey 05:21 2025-06-04 UTC+2

EUR/GBP Forecast for June 4, 2025

Yesterday, the euro sharply reversed down against the pound from the strong resistance level of 0.8448. At the same time, the Marlin oscillator on the daily timeframe also turned downward

Laurie Bailey 05:21 2025-06-04 UTC+2

EUR/USD. June 3rd. Waiting for EU Inflation Data

On Monday, the EUR/USD pair consolidated above the 1.1374–1.1380 zone and rose to the 76.4% retracement level at 1.1454. A rebound from this level worked in favor

Samir Klishi 11:06 2025-06-03 UTC+2

Forecast for GBP/USD on June 3, 2025

On the hourly chart, the GBP/USD pair on Monday consolidated above the 161.8% retracement level at 1.3520. Thus, the pound's upward movement may continue today and throughout the week toward

Samir Klishi 11:05 2025-06-03 UTC+2

Forex forecast 03/06/2025: EUR/USD, AUD/USD, NZD/USD, Oil and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 10:47 2025-06-03 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.