EUR/USD Price Forecast: 1.133 by the end of 2023? | Forexlive

Currency trading is a complex and ever-changing market, but there are some key trends that can help you make informed trading decisions. In this analysis video, I will take a look at the EUR/USD exchange rate and forecast its potential movement in the coming year.

Key Points:

The persistent downtrend of the EUR/USD exchange rate from 2022
Anticipated long-term appreciation of the EUR/USD exchange rate
EUR/USD exchange rate forecasted to hit 1.133 by the end of 2023

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

Make sure you check out the EUR/USD price technical analysis video above.

Key Technical Analysis Insights:

A persistent long-term channel visible from 2014 to the present
Potential EUR/USD rise towards the POC
Volume profile analysis revealing detailed price range insights

Key Observations and Future Opportunities

My observations suggest that the channel is still intact, even with a quick return into the channel after a short stint of the EUR/USD reaching parity. The POC, represented by the red line, is around 1.133, and it is predicted that the EUR/USD will reach this point. Additionally, potential interesting trading junctions have been identified. If the EUR/USD declines and hits the bottom of the channel, or the Value Area Low of the volume profile, as shown in the above video, that would be a SUPER buying opportunity, IMHO.

Key Observations:

The channel is still intact, with the EUR/USD likely to reach the POC at around 1.133
Possible future buying opportunities if the EUR/USD hits the channel’s bottom and rebounds
Long-term forecasting suggests a potential rise up to the POC, offering a nearly five-to-one reward-to-risk ratio for swing traders

TO SUM UP…

For more comprehensive views on a range of currency pairs and other financial assets, visit ForexLive.com. Keep checking back for more updates on the EUR/USD price forecast and EUR/USD price technical analysis! Remember, currency trading always carries risk, and all trading decisions should be made with care.

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