Support & Resistance

EUR/USD analysis for October 27, 2022 – Bull flag pattern in creation

Technical
analysis:

analytics635a2ae3a3dab.jpg

EUR/USD
has been trading downside
this morning but the support at the price of 1.0050 is on the test. I
see potential for further upside continuation.

Trading
recommendation:

Due
to the strong
upside momentum on the EUR and bull flag in creation, I see potential
for further upside movement.

Watch
for buying opportunities on the intraday dips with the upside
objective at the price of 1.0155

Stochastic
oscillator is showing fresh bull cross from oversold condition, which
is sign taht buyers are in control.

Support
is set at the price of 1.0050

The material has been provided by InstaForex Company – www.instaforex.com


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