EUR/USD-Weekly overview

Hello everyone!

-On a weekly chart, we can see that the price was moving in a very strong bullish direction, on a lower time frame such as 1 day and 4-hour time frame charts, we can see that the price had a rejection on Friday so we can see that upper wick.

-We can see that the price was sitting on the resistance area and we can see that the price formed a very nice hammer candle.

-Last week the price closed with a very nice hammer candle(very good signal for trend reversal) so this week the trend was moving bullish.

-On a daily base, EUR is stronger than USD and on a weekly base, EUR is still stronger than USD.
If the EUR remains stronger than USD then we can expect further bullish movement and if USD gains some power and EUR loses some of its power then we can expect bearish movement.

-If the price continues moving in a bullish direction, I expect that the price is going to reach the resistance area. If the price reaches resistance area then we can expect pullback or breakout in a further bullish direction,...-But that is just my opinion!

-WHAT DO YOU THINK ABOUT THIS SETUP?
Please let me know in the comment section!

THANKS FOR READING!

-If you have some different opinions please let me know and if you like this please hit that like button and give me support, I will appreciate every support.

-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not a Financial
advice.