FX.co ★ EUR/USD for January 21,2020 - Sell zone on the EUR and overrbought condition, potential for testing 1.1070

EUR has been trading upwards. The price tested and rejected of the level of 1.1110. I see further downside on the EUR and potential re-test of 1.1070 and 1.040.

There is the potential completion of the ABC upward correction phase, which is sign that selling is on the way. Watch for selling opportunities on the rallies using the intraday-frames 5/15 minute.

MACD oscillator is showing positive reading but without new expansion...

Resistance levels are set at the price of 1.1110 and 1.1126

Support levels and downward targets are set at the price of 1.1068 and 1.1041.