Main Quotes Calendar Forum
flag

FX.co ★ EUR/USD analysis for November 16, 2022 - Breakout of the triangle pattern

parent
Forex Analysis:::2022-11-16T08:08:12

EUR/USD analysis for November 16, 2022 - Breakout of the triangle pattern

Technical analysis:

EUR/USD analysis for November 16, 2022 - Breakout of the triangle pattern

EUR/USD has been trading upside as I expected and I found breakout of the triangle pattern, which is good sign for further growth.

Trading recommendation:

Due to the strong upside pressure in the background and breakout of the triangle pattern I see potential for further upside movement.

Watch for the potential buying opportunities with the upside objectives at 1.0478 and 1.0600.

MACD oscillator is showing fresh upside momentum, which is strong sign that buyers are in control.

Key support is set at the price of 1.0275

Analyst InstaForex
Share this article:
parent
loader...
all-was_read__icon
You have watched all the best publications
presently.
We are already looking for something interesting for you...
all-was_read__star
Recently published:
loader...
More recent publications...