FX.co ★ EUR/USD analysis for February 03, 2023 - Potential for the upside movement

Technical analysis:

EUR/USD has been downside overnight and the key support zone at the price of 1.0885 is on the test. I see potential for the further growth.

Trading recommendation:

Due to the strong upside long term trend in the background and rejection of the support zone, I see potentila for the further growth.

Watch for the potential buying opportunities on the intraday dips with the upside objective at the price of 1.1030

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

Key support is set at the price of 1.0885