FX.co ★ EUR/USD analysis for November 12, 2021 - Potential for the upside breakout

Technical analysis:

EUR/USD has been trading sideways at the price of 1,1450 but I see potential for the bullish movement in the next period.

Trading recommendation:

Due to downside exhaustion and downside channeling mode, my advice is to watch for the upside breakout to confirm bullish movement.

IN case of the upside breakout watch for buying opportunities with the upside targets at 1,1485 and 1,1513.

Stochastic is showing fresh bull cross, which is another sign and confirmation for the bullish swing.

Support level is set at the price of 1,1430