FX.co ★ EUR/USD for January 22,2020 - First downward target at the price of 1.1075 reached, second target at the price of 1.1040 still in the play

EUR has been trading downwards. The price tested my first downward target from yesterday at the price of 1.1070. I see further downside on the EUR and potential test of our second target at the price of 1.1040.

The EUR is still trading inside of the downward slopping channel, which is sign of the short-term down trend. My advice is to watch for selling opportunities on the rallies using intraday-frames 5/15 minutes.

MACD oscillator is showing increase on the downside momentum...

Resistance levels are set at the price of 1.1098 and 1.1118

Support level and second downward target is set at the price of 1.1040.