Eurusd analysis for 03/01/2023 :
– Long-term: after consecutive months of decline throughout the year, the EU had a strong recovery rhythm in Q4 2022. In January 2023, the EU will continue to move towards Supply Zone 1,075, if this barrier is broken, the target in the first quarter of 2023 will reach 1,090 and the bears (sellers) are ready to ambush here, pushing the market to reverse temporarily in a few weeks. We will wait until the market comes here to see what signals and take action next.
– Medium term: This week the EU will approach the price level of 1.075 and this is also the resistance zone that confluences with the monthly frame. We wait to see what the Week frame will give us at this price zone.
– Short term: The EU will rebound to the beginning right around 1,065 then bounce back towards 1,068, further possibly to 1,070.