FX.co ★ EUR/USD analysis for November 11, 2022 - Strong momentum to the upside and breakout of trendline

Technical analysis:

EUR/USD has been trading upside with the strong momentum. I found breakout for the supply of trend-line, which is good sign for further growth.

Trading recommendation:

Due to the strong upside pressure in the background and breakout of the key multi-month resistance at the price of 1.0100, I see potential for further big growth.

Watch for the potential buying opportunities on the intraday dips with the upside objective at the price of 1.0360 and 1.0460

MACD oscillator is showing fresh upside momentum, which is strong sign that buyers are in control.

Key support is set at the price of 1.0170