FX.co - EUR/USD analysis for November 23, 2022 - Rejection of the Fibonacci Confluence in the background

2022-11-23T09:40:21

Relevance until2022-11-23

Technical analysis:

EUR/USD analysis for November 23, 2022 - Rejection of the Fibonacci Confluence in the background

EUR/USD has been trading upside today and I found rejection of the key support at 1.0250, which is good sign for further upside movement.

Trading recommendation:

Due to the rejection of the Fibonacci confluence at 1.0250 in the background, I see potential for further upside movement.

Watch for buying opportunities on the intraday dips with the upside objectives at 1.0475, 1.0550 and 1.0750.

MACD oscillator is showing upside reading, which is good sign that buyers are in control

*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, 2022 - Rejection of the Fibonacci Confluence in the background