EUR/USD is a currency pair comprising the single currency of the European Union, the euro (symbol €, code EUR) and the US dollar (symbol $, code USD). The exchange rate of the pair indicates how many euros are needed to buy one dollar. For example, when EUR/USD trades at 1.2, it means that 1 euro is equal to 1.2 dollars. Why EUR/USD is the most popular trading pair Compared to all tradable currencies, the Euro (EUR) is the second most traded currency in the world.
Read this term exchange rate and predicts its potential movement in the coming year.

Key points:

• Permanent downtrend of the EUR/USD exchange rate since 2022
• Expected long-term strengthening of the EUR/USD exchange rate
• The EUR/USD exchange rate should reach 1.133 by the end of 2023

Now let’s dive deeper into technical analysis of EUR/USD prices, inspired by a video discussion by a seasoned Forex trader. The analysis revolves around the long-term channel from late 2014. With EUR/USD currently at 1.094, the expert believes we are likely to see a rise towards the Point of Control (POC), the price level at which the highest volume has been traded over a period of time.

Make sure you watch the EUR/USD technical analysis video above.

Technical Analysis Key Statistics:

• Permanent long-term channel visible from 2014 to present
• Potential upside for EUR/USD towards POC
• Volume profile analysis revealing detailed price range information

Key insights and future opportunities

My observations suggest that the channel is still intact, even with a quick return to the channel after a short stint at EUR/USD parity. The POC, represented by the red line, is around 1.133 and EUR/USD is expected to reach this point. In addition, potential interesting trade intersections were identified. If EUR/USD drops and hits the bottom of the channel, or the Value Area Low of the volume profile as shown in the video above, that would IMHO be a SUPER buying opportunity.

Key insights:

• The channel is still intact, with EUR/USD likely to reach the POC around 1.133
• Possible future buying opportunities if EUR/USD reaches the bottom of the channel and rebounds
• Long-term forecasts indicate a potential rise to POC, which offers a nearly five-to-one reward-to-risk ratio for swing traders

TO SUM UP…

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