EURUSD: Detailed Technical Outlook 🇪🇺🇺🇸

27 Jan 2023

Hey traders,

Many of you asked me to share my thoughts about EURUSD.

The pair is currently approaching a wide daily supply area.
Analyzing the intraday price action, we can easily spot a slowing bullish momentum.
The market is steadily growing within a rising parallel channel.

I would suggest waiting for a correctional movement on the pair.
Bearish breakout of the channel's support will most likely be a trigger.

Then the pair will drop.

Alternatively, a bullish breakout of the underlined red area and a candle close above that may push the market higher.

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