Relevance up to 05:00 2020-02-21 UTC–8
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
Resistance levels and upward
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
Performed by Petar Jacimovic,
InstaForex Group © 2007-2020
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