FX.co - EUR/USD analysis for September 09 2022 - Breakout of thee key resistance level at 1.0085

2022-09-09T08:29:27

Relevance until2022-09-10

Technical analysis:

EUR/USD analysis for September 09 2022 - Breakout of thee key resistance level at 1.0085

EUr/USD has been trading upside in the background and there is the breakout of the supply trendline at 1.0083., which is good sign for further rally.

Trading recommendation:

Due to the breakout of the supply trend-line and strong upside momentum, I see further rally.

Watch for the potential buying opportunities on the intraday dips with the upside objective at the price of 1.0300.

Stochastic oscillator is showing bull divergence and upside momentum, which is good sign for further rally.

Key support is set at the price of 0.9875

*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 September 09 2022 - Breakout of thee key resistance level at 1.0085