FX.co ★ EUR/USD for February 20,2020 - Broken downard well-defined channel, posibility for the bigger rally towards the 1.0860

Technical analysis:

EUR/USD has been trading sideways at the price of 1.0790. I found that there is the breakout of the well defined downward channel in the background, which is sign that buyers are taking control over buyers and the rally is very possible.

Rising black trend line – Possible path

Downside diagonals – Broken downward channel

Yellow rectangle – Support cluster

Watch for buying opportunities with the main upward targets at the price of 1.0835 and 1.0858.

MACD oscillator is showing 3-pushes down and bullish divergence, which is good confirmation for our long bias.

Major support is set at the price of 1.0760