FX.co - EUR/USD analysis for January 10, 2023 - Breakout of the well defined trading range to the upside

2023-01-10T08:16:56

Relevance until2023-01-11

Technical analysis:

EUR/USD analysis for January 10, 2023 - Breakout of the well defined trading range to the upside

EUR/USD has been trading upside and I found breakout of the well defined trading range, which is good sign for the further rise.

Trading recommendation:

Due to the breakout of the defined trading range , I see potential for further upside movement towards main objective.

Watch for the potential buying opportunities on the intraday dips with the upside objective at the price of 1.1150

MACD oscillator is showing fresh upside momentum, which is strong sign that buyers are in control.

Key support is set at the price of 1.0720

*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 January 10, 2023 - Breakout of the well defined trading range to the upside