FX.co ★ EUR/USD for October 16,2019 - Resistnace on the test, watch for selling opporunities

EUR/USD is trading higher exactly what I expected yesterday. The price did test my yesterday's upward target at 1.1060. EUR/USD is now near the critical point.

Orange rectangle – Important resistance levels

Yellow rectangle – Important support levels

EUR/USD is still trading inside of the upper channel but with the note that important resistance at 1.1060 is on the test. I would not watch for long positions near the resistance. Watch for potential down rotation in order to find potential sell opportunity. Support levels are seen at the price of 1.1000 and 1.0950.