FX.co ★ EUR/USD analysis for September 23, 2022 - Breakout of the triangle pattern and potential for bigger drop

Technical analysis:

EUR/USD has been trading downside as I expected. There is the breakout of the triangle on the 4H time-frame, which is good sign for further downside movement.

Trading recommendation:

Due to the strong downside trend and the breakout of the triangle pattern in the background, I see potential for further drop.

Watch for the potential selling opportunities on the intraday rallies with the downside objective at the price of 0.9615.

MACD oscillator is showing strong downside momentum, which is good sign for further downside movement.

Key resistance is set at the price of 0.9910