FX.co ★ EUR/USD for January 23,2020 - SBroken support trendline and short-short term downward trend, selling prerferable

Technical analysis:

EUR/USD has been trading sideways at the price of 1.1088. Anyway, I found the breakout of the important pivot support and there is also Head and Shoulders pattern in the background, which is sign for the downside pressure.

The breakout of the important support is the early trigger for the downside movement. My advice is to watch for selling opportunities on the rallies using intraday-frames 5/15 minutes.

MACD oscillator is showing decreasing momentum and the slow line turned bullish.

Resistance levels are set at the price of 1.1100 and 1.1115

Support levels and downward targets are set at the price of 1.1040 and $1.1000