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EUR/USD analysis for January 19, 2022 – Upside breakout of contraction

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Technical
analysis:

EUR/USD
has been trading downside in the past 24 hours and EUR tested my
downside objective at the price of 1,1320. Anyway, I see potential
for the upside movement today.

Trading
recommendation:

Due
to the breakout of the mini contraction in the background, I see
potential for the upside movement in next period.

Watch
for selling opportunities on the pullbacks with the upside objective
at the price of 1,1395.

Key
support level is set at the price of 1,1315

The material has been provided by InstaForex Company – www.instaforex.com

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