FX.co ★ EUR/USD analysis for 03.10.2020 - Breakout of the symmetrical triangle in the background, watch for selling opportunities with the target at 1.1288

EUR/USD been trading sideways at the price of 1.1385.I found the breakout of the contracting flat pattern, which is first indication for potential bigger downside movement.I would still watch selling opportunities on the rallies with the main targets at 1.1288 and 1.1216.

In the background, there is the fake breakout of the breakout of the upward channel, which is good confirmation for our bearish view.

Stochastic oscillator is showing overbought condiiton.

Resistance levels are set at the prrice of 1.1400 and 1.1495

Support levels are set at the price of 1.1330, 1.1288 and 1.1215