FX.co - EUR/USD analysis for November 23, 2021 - Breaout of thee falling wedge

2021-11-23T13:03:51

Relevance until2021-11-24

Technical analysis:

EUR/USD analysis for November 23, 2021 - Breaout of thee falling wedge

EUR/USD has been trading sideways at the price of 1,1240. I see potential for the rally in the next period.

Trading recommendation:

Due to breakout of the falling wedge in the background, I see potential for the rally towards upside references.

Watch for buying opportunities on the pullbacks with the upside objectives at 1,1275, 1,1289 and 1,1320.

Support level is set at the price of 1,1225

*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 analysis for November 23, 2021 - Breaout of thee falling wedge