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20.01.202017:24 Forex Analysis & Reviews: EUR/USD for January 20,2020 - Bullish divergence on the MACD oscillator, potential for rally

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EUR/USD has been trading downwards. The price tested the level of 1.1079. I found that there is potential for oversold condition and that buying opportunities are preferable with the upward targets at 1.1103 and 1.1125.

In case of the stronger downside break, there is chance for test of 1.1040.

MACD oscillator is bullish divergence on the 4H time-frame, which is sign that there is the chance for potential rally.

Resistance levels are seen at the price of 1.1103 and 1.1125

Support levels are seen at 1.1080 and 1.1066

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