FX.co - EUR/USD analysis for January 19, 2023 - Potential for the upside movement towrads resitance zone

2023-01-19T07:22:29

Relevance until2023-01-20

Technical analysis:

EUR/USD analysis for January 19, 2023 - Potential for the upside movement towrads resitance zone

EUR/USD has been trading sideways at the price of 1.0786 and I see potential for the upside rotation towards upper references.

Trading recommendation:

Due to the strong support zone at the price of 1.0770, I see potential for the upside rotation towards resistance zone.

Watch for the potential buying opportunities with the upside objective at the price of 1.0870.

Stochastic oscillator is showing oversold condition and potential for the higher prices.

Key support is set at the price 1.0770

*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 19, 2023 - Potential for the upside movement towrads resitance zone