FX.co ★ EUR/USD analysis for November 16, 2022 - Breakout of the triangle pattern

Technical analysis:

EUR/USD has been trading upside as I expected and I found breakout of the triangle pattern, which is good sign for further growth.

Trading recommendation:

Due to the strong upside pressure in the background and breakout of the triangle pattern I see potential for further upside movement.

Watch for the potential buying opportunities with the upside objectives at 1.0478 and 1.0600.

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

Key support is set at the price of 1.0275