FX.co ★ January 16, 2023 : EUR/USD daily technical review and trading opportunities.

Price levels around 1.1700 has been holding prices for a short period of time before another price decline took place towards 1.1200.

Shortly after, the price zone around 1.1500 has applied significant SELLING pressure when a valid SELL Entry was offered upon the previous ascending movement towards it.

Shortly after, the EUR/USD pair has been moving downwards reaching the price levels of 1.0850, 1.0400, 1.0000 and recently 0.9600.

The market has remained under buying pressure until a plateau level occurred around the current key-zone around 1.0600-1.0650.

In the mean time, any downside movement towards 1.0300 should be watched for BUYING pressure where a new upside movement can be established.