17.01.202309:21 Forex Analysis & Reviews: EUR/USD analysis for January 17, 2023 - Potential for the upside movement

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Technical analysis:

EUR/USD has been trading sideways at the price of 1.0820 but I see potential for the breakout play to the upside.

Trading recommendation:

Due to the breakout of the Pitchfork channel to the upside and the bullish trend in the background, I see potential for the further upside movement.

Watch for the potential buying opportunities with the upside objective at 1.0870.

Stochastic is showing neutral reading

Key support is set at the price of 1.0805

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