EUR/USD for January 15,2020 – Potetnial completion of the ABC upside corection, watch for downside opportunities…

Source: Forex Analysis
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EUR/USD has been trading upwards in the past few hours. The price did test reject of the level of 1.1155 and started sideways mode. I found potential completion of the upward cycle and start of the downside cycle.

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Watch for selling opportunities on the rallies and use 5/15 minute time-frame for better timing. Downward target is set at the price of 1.1120.

MACD oscillator is showing increasing on the upside momentum but the slow line is still in neutral stance…

Resistance levels are set at the price of 1.1155 and $1.1165

Support levels and downward target is set at the price of 1.1120.

The material has been provided by InstaForex Company – www.instaforex.com