EURUSD 23 Jan 2024 on the weekly timeframe. It can be seen that the pair is still experiencing sideways moving between R1 and R2 after breaking R2 last month but back down. Successfully occupying the price position of 1.08924, the pair is trying to bounce back stronger towards R2. If referring to the stochastic indicator which also shows a strengthening chart, go-long could be an option for traders. But if there is one factor that affects the change in the market, go-short can be an option when a bearish trend occurs. Keep an eye on the market movements and consider all possibilities before making trading decisions.
