Will EURUSD will breakout soon?

16 сент. 2023 г.

EURUSD is a Forex instrument; by looking at the chart, we can see that EURUSD has been in consolidation mode for the last two months. It's roaming in the support ZONE right now. The consolidation band is contracting and might give a break this time. If it breaks to the upside, it can give nice targets of R: R:: 1:3.

Reason:

1. RSI moving up from oversold Zone.
   
2. Moving in Bullish Falling wedge Pattern. Soon, it might give a breakout.
   

Verdict:
Soon Breakout Expected.

Plan of Action:
Buy on Breakout.