empty
 
 
20.02.2020 03:10 PM
EUR/USD for February 20,2020 - Broken downard well-defined channel, posibility for the bigger rally towards the 1.0860

Technical analysis:

This image is no longer relevant

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
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback