FX.co ★ EUR/USD analysis for January 19, 2022 - Upside breakout of contraction

Technical analysis:

EUR/USD has been trading downside in the past 24 hours and EUR tested my downside objective at the price of 1,1320. Anyway, I see potential for the upside movement today.

Trading recommendation:

Due to the breakout of the mini contraction in the background, I see potential for the upside movement in next period.

Watch for selling opportunities on the pullbacks with the upside objective at the price of 1,1395.

Key support level is set at the price of 1,1315