FX.co ★ EUR/USD for October 14,2019 - Broken upward channel whithin larger upward channel

EUR/USD has been trading sideways at the price of 1.1025. I do expect downside and potential test of the support at 1.1007. Watch for potential selling opportunities.

Yellow rectangle – Important support levels

Upper parallel line – Upward trend channels

Purple falling line – Expected path

I see that there is potential for down move and potential test of the 1.1000 level. The overall trend is still bullish but there is chance for downward correction first. Important resistance is set at the price of 1.1062. My advice is to watch for selling opportunities with the target 1.1000.