FX.co ★ EUR/USD analysis for January 24, 2023 - Breakout of the trding range and potential for further growth

Technical analysis:

EUR/USD has been trading upside as I expected and there is potential for the further growth due to the breakout fo the trading range.

Trading recommendation:

Due to the strong upside pressure in the background and breakout of the trading range, I see potential for further growth.

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

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

Key support is set at the price of 1.0850