Euro is trying to maintain the bullish path 15/11/2022

The movements of the euro against the US dollar did not witness any change during the first trading sessions of this week, and the pair continues to maintain positive stability, reaching its highest level yesterday, 1.0366.

On the technical side today, the simple moving averages continue to support the daily bullish curve for prices, and we find the pair stable intraday above the 1.0280 support floor represented by the 38.20% Fibonacci correction.

The possibility of continuing the bullish trend is still valid and effective, targeting 1.0370 as a first target, knowing that the breach of the mentioned level is a catalyst capable of enhancing chances of rising towards 1.0450, and gains may extend later to visit 1.0465.

To remind that stability of daily trading above 1.0270 is a prerequisite for activating the above-suggested scenario, and infiltrating below it delays the chances of a rise, but does not cancel it. We may witness a retest of 1.0200/1.0220 before attempts to rise again.

Note: Today we are awaiting the monthly US inflation data produced in “Product Price Index”, and we may witness clear price fluctuations.

Note: Trading on CFDs involves risks. Therefore, all scenarios may be possible. This article is not a recommendation to buy or sell but rather an explanatory reading of the price movement on the chart.

S1: 1.0270	R1: 1.0370
S2: 1.0220	R2: 1.0415
S3: 1.0175	R3: 1.0465