FX.co - EUR/USD analysis for August 10, 2023 - Upside breakout of the triangle pattern

2023-08-10T06:47:14

Relevance until2023-08-11

Technical analysis:

EUR/USD analysis for August 10, 2023 - Upside breakout of the triangle pattern

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

Due to the upside momentum this morning and the breakout of the triangle pattern, I see potential for the further rally towards upisde references.

Upside objectives are set at the price of 1.1010 and 1.1035

Stochastic oscillator is showing fresh bull cross, which is good sign for the further upside continuation.

Support level is set at the price of 1.0970

*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 August 10, 2023 - Upside breakout of the triangle pattern