FX.co ★ EUR/USD for September 04,2019 - Sell zone on EUR

EUR/USD has been trading upwards in past 24 hours but the major resistance at the price of 1.1030-1.1053 is on the test. My advice is to watch for selling opportunities due to strong resistance on the test.

Yellow rectangle – Major resistance

Black horizontal lines – Downward targets and support levels

MACD oscillator did show new momentum down in the background and there chance for potential re-tests of the low at 1.0925. Resistance levels are found at$1.1030-1.1053 and support levels at 1.0980-1.0925. My advice is still to watch for selling opportunities and as long as the level of 1.1050 is holding and EUR don't trade above it, there is chance for more downside. There is no indication of any significant reversal for the upside, the trend is still down on the short-term prospective.