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FX.co ★ EUR/USD analysis for February 02, 2023 - Upside objectives reached

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Forex Analysis:::2023-02-02T08:38:36

EUR/USD analysis for February 02, 2023 - Upside objectives reached

Technical analysis:

EUR/USD analysis for February 02, 2023 - Upside objectives reached

EUR/USD has been trading upside as I expected and the price has reached the upside objectives at the price of 1.0930 and 1.1030. Anyway, I see potential for further upside movement due to the strong upside momentum.

Trading recommendation:

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

Watch for the potential buying opportunities on the intraday dips with the upside objective at the price of 1.1150

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

Key support is set at the price of 1.0900

Analyst InstaForex
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