FX.co - EUR/USD - Upside breakout and potential for the bigger rally

2021-11-18T12:54:59

Relevance until2021-11-19

Technical analysis:

EUR/USD - Upside breakout and potential for the bigger rally

EUR/USD has been trading upside this morning and there is the breakout of the ascending triangle, which is sign that EUR can have upside run.

Trading recommendation:

Due to upside breakout of the ascending triangle in the background, watch for buying opportunities on the pullbacks.

Upside targets are set at the price of 1,1375 and 1,1385

Stochastic is showing fresh bull cross, which is another sign and confirmation for upside movement.

Support level is set at 1,1310

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ EUR/USD - Upside breakout and potential for the bigger rally