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FX.co ★ EUR/USD for January 20,2020 - Bullish divergence on the MACD oscillator, potential for rally

EUR/USD for January 20,2020 - Bullish divergence on the MACD oscillator, potential for rally

EUR/USD has been trading downwards. The price tested the level of 1.1079. I found that there is potential for oversold condition and that buying opportunities are preferable with the upward targets at 1.1103 and 1.1125.

EUR/USD for January 20,2020 - Bullish divergence on the MACD oscillator, potential for rally

In case of the stronger downside break, there is chance for test of 1.1040.

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MACD oscillator is bullish divergence on the 4H time-frame, which is sign that there is the chance for potential rally.

Resistance levels are seen at the price of 1.1103 and 1.1125

Support levels are seen at 1.1080 and 1.1066

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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