FX.co ★ EUR/USD analysis for September 29, 2022 - Potential for the rally and upside continuation

Technical analysis

:

EUR/USD has been trading upside in the background and I found breakout of the supply trend-line and recent swing highs, which is good sign for further rally.

Trading recommendation:

Due to the strong upside momentum yesterday on EUR, I see potential for further upside movement in case of the breakout of the downside channel.

Watch for the potential buying opportunities in case of the breakout of the downside channel.

Upside objectives are set at the price of 0.9690 and 0.9750

Stochastic oscillator is showing bullish divergence, which is good sign for further rally.

Key support is set at the price of 0.9650