Forex Pairs Support & Resistance

Technical Analysis of EUR/USD on January 12, 2023 and Opportunities for Trading

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A period of stability at the 1.1700 level was not sustained, and prices subsequently dropped to 1.1200.

Subsequent to the price point of 1.1500, a notable amount of SELLING pressure was generated when the possibility of a valid SELL Entry was presented following the prior climb to the same level.

After a short period of time, the EUR/USD pair has been descending, touching levels of 1.0850, 1.0400, 1.0000, and most recently 0.9600.

The market has been subject to buying pressure before reaching a limit at the crucial zone of 1.0600-1.0650.

At the same time, any downward motion towards 1.0300 should be monitored for potential buying pressure which could lead to an upward trend.

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Andrew Johnson is a seasoned journalist with a keen interest in the commodity market. He is a regular contributor to, where he covers the latest news, trends, and analysis related to the commodity industry. With years of experience under his belt, Andrew has established himself as a reliable source of information on the global commodity market.