Main Quotes Calendar Forum
flag

FX.co ★ EUR/USD analysis for October 12, 2023 - Rising wedge pattern in creation

parent
Forex Analysis:::2023-10-12T08:16:21

EUR/USD analysis for October 12, 2023 - Rising wedge pattern in creation

Technical analysis:

EUR/USD analysis for October 12, 2023 - Rising wedge pattern in creation

EUR/USD has been trading sideways at the price of 1.0620 and I found rising wedge pattern in creation and potential for the breakout mode.

In case of the downside breakout of the support at 1.0580, there is the chance for the further drop towards downside reference at 1.0485

IN case of the upside breakout of the resistance at 1.0645, there is the chance for the higher prices towards upside reference at 1.0720

RSI reading is neutral around 50 level

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...