FX.co ★ EUR/USD analysis for January 26, 2023 - Breakout of the trading range and potential for further growth

Technical analysis:

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

Trading recommendation:

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

Watch for the potential buying opportunities on the intraday dips with the upside objective at the price of1.1127.

Slow Stochastic is showing bull reading, which is another sign for the strong bull momentum.

Key support is set at the price of 1.0850