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03.01.202309:03 Forex Analysis & Reviews: EUR/USD: price stays within the December range

Exchange Rates 03.01.2023 analysis

EUR/USD opened surprisingly calm this year. In previous years, it traded within a narrow range during Christmas and the first working days of the New Year, but now it was in a wide range, consolidating under the highs. This means that a breakout is brewing around the top of the range.

In terms of the European and US markets, they remain closed during the New Year and just started trading normally today. Thus, it is unlikely that there will be strong movements, so investors need to be careful when entering the market.

A good trading idea today is to sell above the current highs of December. If this do not succeed, try again in 60-80 pips. Remember not to risk more than 1% of the deal. Good luck!

*这里的市场分析是为了增加您对市场的了解,而不是给出交易的指示。

Jozef Kovach,
Analytical expert of InstaSpot
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