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FX.co ★ EUR/USD analysis for November 23, 2022 - Rejection of the Fibonacci Confluence in the background

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Forex Analysis:::2022-11-23T09:40:21

EUR/USD analysis for November 23, 2022 - Rejection of the Fibonacci Confluence in the background

Technical analysis:

EUR/USD analysis for November 23, 2022 - Rejection of the Fibonacci Confluence in the background

EUR/USD has been trading upside today and I found rejection of the key support at 1.0250, which is good sign for further upside movement.

Trading recommendation:

Due to the rejection of the Fibonacci confluence at 1.0250 in the background, I see potential for further upside movement.

Watch for buying opportunities on the intraday dips with the upside objectives at 1.0475, 1.0550 and 1.0750.

MACD oscillator is showing upside reading, which is good sign that buyers are in control

Analyst InstaForex
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