FX.co ★ EUR/USD analysis for January 23, 2023 - Breakout of the trading range to the upisde

Technical analysis:

EUR/USD has been trading upside as I expected and the price did breakout of the well defined trading range, which is very good sign for the further growth.

Trading recommendation:

Due to the breakout of the trading range and the strong upside trend in the background, I see potential for the further higher prices.

Watch for the potential buying opportunities on the intraday dips with the upside objective at the price of 1.1100

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

Key support is set at the price of 1.0880