FX.co - EUR/USD analysis for November 28, 2022 - Potential for the end of the downside correction

2022-11-28T07:48:34

Relevance until2022-11-29

Technical analysis:

EUR/USD analysis for November 28, 2022 - Potential for the end of the downside correction

EUR/USD has been trading sideways at the price of 1.0380. Anyway, I see potential for the upside continuation.

Trading recommendation:

Due to the strong upside pressure in the background and rejection of key support at 1.0230, I see potential for further growth.

Watch for the potential buying opportunities on the intraday dips with the upside objective at the price of 1.0475

Stochastic oscillator is showing bullish divergence in the background and oversold condition, which is good sign for further upside movement.

Key intraday support is set at 1.0345

*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 28, 2022 - Potential for the end of the downside correction